For the economies whose leaders signed on to Sunday’s communiqué, the hard work is just beginning.
Stock markets perked up on Monday after world leaders failed to agree on a global bank levy and softened the timetable for new capital requirements at a do-little G20 summit in Canada which posed questions about the forum's effectiveness.
It is always easier to get unity in the early days of a crisis. Fear concentrates the minds of leaders.
The debts of local Chinese governments are not huge or risky enough to evolve into a crisis like the one sweeping Europe, but the situation does deserve attention, economists at home and abroad have said.
Leaders from rich and poor nations hailed the G20 as the premier global forum for economic co-operation, but critics warned the Toronto summit showed it risks becoming just another talking shop.
Reflecting contrasting national priorities and differing views, world leaders at the G20 summit have pledged to halve budget deficits by 2013 – but agreed to take different paths towards lasting growth.
I've decided to add a few terms to the communique glossary put out by Waterloo-based Centre for International Governance Innovation. Here's a few tongue-in-cheek translations for those trying to decipher some of the arcane financial terms and euphemisms being tossed around by the G20 leaders this weekend.
TORONTO - Stephen Harper says he believes India’s Cold War duplicity has been consigned to history and that the Asian economic powerhouse won’t use Canadian uranium to build nuclear bombs.
Against significant odds, the Group of 20 is moving closer to its goal of rebalancing the global economy.
TORONTO -(Dow Jones)- Leaders of the Group of 20 developed and developing nations have scrambled together a basic accord on plans to toughen financial regulations, but it was clear by the end of this weekend's summit in Toronto that they also sowed a fair degree of discord.
Analysts' View: G20 treads different paths to growth TORONTO Sun Jun 27, 2010 5:56pm EDTTORONTO (Reuters) - World leaders from the Group of 20 rich and emerging nations agreed to disagree on Sunday over the best path for securing economic recovery and financial reform.
TORONTO (Reuters) - World leaders agreed on Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries.