InfoAnda - G20 opens door to smaller economies in crisis talks

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Deadliest day this year for NATO in Afghanistan | 8 June 2010
Nvidia sees mobile chips boosting Q1 revs | 17 February 2011
Reality romance cursed? Check out the track record | 24 June 2009

Indonesia mourns former president Wahid | 31 December 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : G20 opens door to smaller economies in crisis talks

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: G20 opens door to smaller economies in crisis talks AFP - Monday, November 10 SAO PAULO (AFP) - - A Sao Paulo meeting of key finance officials opened the door slightly Sunday to broadening the club of global economic leadership in an effort to battle a deepening financial crisis. The finance ministers and central bank governors of the Group of 20 set up the agenda for an emergency summit of its leaders next Saturday in Washington that seeks more participation beyond the wealthiest nations. The G20, representing the biggest developed and emerging nations , pledged "all necessary steps" to boost sagging market confidence and to give a bigger voice to developing countries in global economic affairs. Although no specific proposals emerged, the G20 said in a statement, "We agreed that we must draw policy lessons from the current crisis and take all necessary steps to restore market confidence and stability and to minimize the risk of a future crisis." The statement said "the global crisis requires global solutions and common set of principles," and added that "we stand ready to urgently take forward work and actions agreed by our leaders." John Kirton, director of the G20 Research Group at the University of Toronto, said the G20 "substantially delivered" on its promise to play a role in battling the global economic maelstrom. "The G20 is emerging as an effective center of global financial and economic governance," he said. "It has not only responded speedily and appropriately but it has started to put into place a whole new system of global governance." Brazilian Finance Minister Guido Mantega said that at next week's Washington summit, "will have the political power" of the heads of state and government "to proceed with proposals." The Brazilian minister, who has led a call for emerging nations to play a bigger role in financial affairs, said that officials saw a need for quick actions to steady a troubled global economy. "The solutions have to come fast. We have to change the tires with the car in motion," he said. "In one or two or three months we will see the answers to these questions." But asked whether the G20 would replace the G7 as a steering committee for economic affairs, he said, "This is an issue that has not yet been resolved, but the G20 is a strong candidate to coordinate actions." David Kotok, an economist at US-based Cumberland Advisors, said the movement toward a more powerful G20 is positive. "Globalization and world financial integration is threatened by the turmoil," Kotok said. "G7 must quickly give way to G20. We already see the expansion of swaps between central banks reaching way beyond the G7. Central banks know fast action is needed and they can use their existing powers in the monetary policy implementation process. But monetary policy is limited and finance ministers and their governments must coalesce rapidly in a unified way." The Sao Paulo meeting concluded that the Bretton Woods system set up to govern international finance in 1944 should be revamped. "We underscored that the Bretton Woods Institutions must be comprehensively reformed so that they can more adequately reflect changing economic weights in the world economy and be more responsive to future challenges," the statement said. "Emerging and developing economies should have greater voice and representation in these institutions." This would mean overhauls of the World Bank and International Monetary Fund, created at Bretton Woods. The G20 communique and statements from officials indicated a general agreement on broad principles among the ministers, noting that more detailed proposals would come from the November 15 summit of G20 heads of state and government hosted by US President George W. Bush. Robert Brusca, a New York economist at FAO Economics, said the G20 so far failed to offer any specific help for the sputtering economy. "Nothing is concrete, though they say they should take concrete steps," he said. "A group this large has a hard time making decisions." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Australian PM pledges to never abandon auto industryAFP - 1 hour 6 minutes ago Australian central bank lowers growth estimatesAFP - 1 hour 33 minutes ago Seoul shares up; industrials jump, carmakers fallReuters - 1 hour 38 minutes ago France, Australia ministers in talks on financial crisisAFP - 1 hour 46 minutes ago Related Articles: Business China regulator urges banks to bolster risk controlsReuters - 45 minutes ago Australia's central bank slashes growth forecastsAP - 46 minutes ago France, Australia ministers meet to boost tiesAFP - 49 minutes ago Indian shares up more than 3 pct as sentiment liftsReuters - 50 minutes ago China's economy to grow 8-9 percent in '09: central bank chiefAFP - 52 minutes ago Enlarge Photo G20 opens door to smaller economies in crisis talks Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Documents expose Prince William RAF training row: report G20 pledges 'all necessary steps' to restore stability In Obama's victory, Americans see legacy of Lincoln Porsche hits record results on the back of VW shares Obama: First pooch may be mutt 'like me' View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Sunday, 9 November 2008
Canadian kept in a hole in the ground in Afghanistan
Two Spanish soldiers killed in Afghanistan: defence ministry
Israelis, Palestinians want support for peace talks | International |
Southern African leaders start summit on Zimbabwe | International |
Iranian economists criticize Ahmadinejad
South Ossetian forces occupy Georgian village: Tbilisi | International |
Egypt sends bin Laden's wandering son to Qatar | International |
Iran speaker criticizes Obama's nuclear remarks | International |
Reminisces of old Baghdad by one of last Jews | International |
Hurricane Paloma weakens further to Category One
China announces $586 billion stimulus plan
NZ house prices continue to decline in year to Oct
Taiwan central bank cuts interest rates by 25 bps
Saudi Aramco says on track for 12 mbpd capacity
Quartet pushes Israel, Palestinians to stick to peace talks
Bin Laden's son in Qatar after being deported by Egypt
Bomb attacks kill 8, wound dozens across Iraq
AP IMPACT: After US goes, Iraqi city faces vacuum
In Obama's victory, Americans see legacy of Lincoln
AIDS vaccines: New hope for problem-plagued path
G20 pledges 'all necessary steps' to restore stability
Air strike killed 37 Afghan civilians | International |
G20 agreed on need for world finance reform: EU ministers
Two Spanish soldiers killed in Afghan suicide attack
Zimbabwe's opposition MDC rejects SADC demands | International |
Russian submarine accident kills 20
Nigerian militants say four hostages released | International |
Deutsche Post to shed thousands of US jobs
S.Africa pressures Zimbabwe on unity deal
Won sets back South Koreans' overseas education plans | International |
MP3 player headphones may hinder pacemakers: study | Technology |
Obama could reverse Bush orders on drilling, stem cells
South West residents reduce carbon footprint by using energy trackers
Intel to unveil new health-care system: report | Technology |
Lockerbie families begin getting funds
RPT-NZ house prices continue to decline in year to Oct
Syrian president criticizes proposed US-Iraq pact
Cartoon critters, James Bond draw moviegoers | Entertainment |
Nicole Kidman to play transsexual in period drama | Entertainment |
Coldplay 2008's biggest act at World Music Awards | Entertainment |
Sly Stallone casting ugly guys for next movie | Entertainment |
Hollywood paparazzo pioneer says he has no regrets | Entertainment |
Director Brett Ratner circles Conan remake | Entertainment |
Seven killed, scores wounded in Baghdad bomb attack
Indonesia handling of Bali executions questioned | International |
World marks 90th anniversary of Great War
MP3 headphones can hamper defibrillators, pacemakers
Canada won't extend Afghan commitment, minister says | International |
Baghdad double bombing kills 25: police | International |
China says no compromising on Tibet's future | International |
Safety-wary China officials cancel Taiwan trips: KMT | International |
Strong quake hits China's Qinghai region | International |
US military conducts a dozen secret strikes in four years: report
Maldives saves for new homeland amid flooding fears: report
Obama prepares for White House handover talks with Bush
Dell not to launch music player before holidays: report | Technology |
China's economy to grow 8-9 percent in '09: central bank chief
Report: US conducted secret ops in Pakistan, Syria
Japan's quarterly machinery orders drop sharply
Seoul shares up; industrials jump, carmakers fall
Investors cheer China's stimulus package
World oil prices up on OPEC chief's remarks
China's new reality: Economic boom is slowing
NZ dollar up on stocks, Chinese package; bonds soft
World oil prices up on OPEC chief's remarks
US govt near deal to review AIG rescue package: report
S.Korea further delays power price hikes
G20 opens door to smaller economies in crisis talks
South African singer Miriam Makeba dies in Italy | Entertainment |
Markets cheer Chinese investment plan
Country star Merle Haggard battling lung cancer | Entertainment |
Who's L.A. concert hits some rough patches | Entertainment |
Hollywood paparazzo pioneer says he has no regrets | Entertainment |
YouTube to post full-length MGM films | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01