Business

G20 Hoping to Solve Something.
by Milota Sidorova

G20 leaders are meeting in Pittsburgh on two day meeting to discuss sheer volume of problems. Just few days after general OSN meeting picking up climate problems and global financial control tools, representatives of twnety world’s greatest economies will continue the talk. Some of the problems scheduled for the debate is lopsided global growth, climate change and of course tougher financial regulation and caps on bank system. German representatives along with Merkel and Axel Weber, the head of the German central bank shared optimism before departing for the meeting. They hoped the meeting will be more productive than its ancestors. European leaders are more focused ! on financial regulations and the United States are rather concerned about imbalances between Chinese and their own continuously sinking export. And here we come into the contradiction. While debt-laden countries, and be honest, we’re saying about United States, should accept save decisions, there’s a general will to increase consumption in exporting countries, and let’s be honest, right now we’re talking about China. Generally, politicians share the common opinion on financial issues. Some of them, except of global talks are also facing domestic challenges. President Obama has been defending his controversial health report and German Prime Minister, Angela Merkel has to withstand national election. Meeting in Pittsburgh is the third during the last year and it’s expected to bring strong financial reform. European leaders, however haven’t agreed IMF to be the global supervisor of financial risks and banking behavior. So far, IMF has been ! pumped by national funds to prevent banking sector from failin! g and as sure loans for states unable to hold together its own economy. On the other side, with the U.S. as general donor, I can understand critics on IMF decision transparency.

related story (sgx15450): http://news.yahoo.com/s/nm/20090924/ts_nm/us_g20...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 2:16 PM