No Clear Accord on Stimulus by Top 20 Nations - by Landon Thomas and Julia Verdiger
At the end of a lengthy meeting at a luxury resort outside London, the so-called Group of 20 nations, who together represent about 85 percent of the world economy, failed to offer specifics about the size or timing of coordinated economic stimulus, and some major EU players, including Germany and France, remain deeply reluctant to add to their national debt. The fact that the G-20 finance ministers stopped short of announcing any details left the impression that beneath the pledges of cooperation, a trans-Atlantic rift remained over whether government intervention should emphasize more regulation or stimulus spending.
Note EU-Digest: European tax payers must adamantly continue to demand from their leaders that spending tax payers money to prop up the global financial system requires strict enforceable regulations be put in place, not just political promises.
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