G20 parts ways in search of lasting recovery

Reuters - U.S. Editon, also appeared in WUSF 89.7 FM and WUSF-TV (Tampa, FL), TVNZ (New Zealand)

Lesley Wroughton Simon Rabinovitch
June 27, 2010

The following is an excerpt. To view the full article please visit the link below

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.

In a reversal from the unity of the past three crisis-era Group of 20 summits, the leaders left room to move at their own pace and adopt "differentiated and tailored" policies.

The G20 rich and developing economies tried to balance their contrasting priorities by pledging to halve budget deficits by 2013 without stunting growth, and to clamp down on risky bank behavior without choking off lending. …

* * *

The opinions expressed in this article/multimedia are those of the author(s) and do not necessarily reflect the views of CIGI or its Board of Directors.