Neubarth
At the Ballpark July 30th
Secret G20 meeting today.
Split on a Cure for Recession, Leaders Try Three Efforts
HORSHAM, England Still divided over the best way to fight the global economic downturn, finance officials of the leading industrial nations agreed on Saturday to commit more money to help developing countries, step up efforts to revive bank lending and regulate hedge funds.
A statement issued after the meeting was aimed at reassuring markets that the group shared common goals. We have taken decisive coordinated and comprehensive action to boost demand and jobs, the statement said, and we are prepared to take whatever action is necessary until growth is restored.
But the ministers of the so-called Group of 20 nations, representing about 85 percent of the world economy, stopped short of announcing any details, a signal that beneath the pledges of cooperation, a trans-Atlantic rift remained over whether government intervention should emphasize more regulation or stimulus spending.
The meeting was a precursor to the coming G-20 summit to be held on April 2 in London, where the leaders of the major industrial powers and big developing countries will gather in an attempt to reach agreement on how to stem the global economic tailspin.
http://www.nytimes.com/2009/03/15/business/15global.html?_r=1
Split on a Cure for Recession, Leaders Try Three Efforts
HORSHAM, England Still divided over the best way to fight the global economic downturn, finance officials of the leading industrial nations agreed on Saturday to commit more money to help developing countries, step up efforts to revive bank lending and regulate hedge funds.
A statement issued after the meeting was aimed at reassuring markets that the group shared common goals. We have taken decisive coordinated and comprehensive action to boost demand and jobs, the statement said, and we are prepared to take whatever action is necessary until growth is restored.
But the ministers of the so-called Group of 20 nations, representing about 85 percent of the world economy, stopped short of announcing any details, a signal that beneath the pledges of cooperation, a trans-Atlantic rift remained over whether government intervention should emphasize more regulation or stimulus spending.
The meeting was a precursor to the coming G-20 summit to be held on April 2 in London, where the leaders of the major industrial powers and big developing countries will gather in an attempt to reach agreement on how to stem the global economic tailspin.
http://www.nytimes.com/2009/03/15/business/15global.html?_r=1
