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A look at the main topics at the G-20 summit

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fuckin Forbes

FISCAL STIMULUS - European countries, in particular Germany, have resisted calls from the United States and Britain for more government spending to stimulate the economy. Chances for a specific fiscal package appear remote.

FIXING BANKS - The G-20 leaders are expected to agree they must get shaky securities off the balance sheets of banks in their countries, and that more capital to banks may be necessary to get credit flowing normally again.

IMF - The International Monetary Fund will likely see its reserves replenished to help it lend money to governments in financial trouble. The EU has called raising its resources to $500 billion. In return for providing more funds, countries like China will be looking to get a bigger say in how it and the World Bank are run.

CURRENCIES - China's recent call for the promotion of a new super-sovereign reserve currency to replace, or at least operate alongside, the U.S. dollar, won't get approval but underlines Chinese concern about the value of its holdings of dollar-denominated U.S. Treasury bonds.

WORLD TRADE - Leaders are expected to agree on the need to kick-start global trade and get trade finance flowing again. Protectionist measures will be discouraged - although the World Bank says 17 members have already broken that pledge.

TAX HAVENS - An ongoing crackdown on tax havens is expected to make it to the final communique, not least because governments around the world will be looking to plug their swelling deficits.

HEDGE FUNDS - Tighter scrutiny of hedge funds and private equity funds are likely to be announced as governments look to rein in the activities of the so-called shadow banking system.


                                               Look at the flowers

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