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G-20 finance officials: Too early to end stimulus

Saturday, November 07, 2009 7:13:58 PM
By JANE WARDELL

German Finance Minister Wolfgang Schaeuble, left, chats with British Treasury chief Alistair Darling, center, and French Finance Minister Christine Lagarde, right, after posing for a group photo during the G20 Finance Ministers meeting at St. Andrews, Scotland, Saturday, Nov. 7, 2009. (AP Photo/Chris Clark)ST. ANDREWS, Scotland (AP) - Finance officials from rich and developing countries have pledged to maintain emergency support for their economies until recovery is assured, but failed to reach a clear agreement to bear the cost of fighting climate change.

There was also a mixed reaction among the Group of 20 leading rich and emerging nations Saturday to a British-led push to consider a fund for bank bailouts, possibly financed by a tax on financial transactions, to ensure that taxpayers don't bear the brunt of any future rescues.

The grouping — representing around 90 percent of the world's wealth, 80 percent of world trade and two-thirds of the world's population — said in a statement after talks in St. Andrews, Scotland, that economic recovery is "uneven and remains dependent on policy support."


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