G20 summit

The leaders of the world’s largest economies came together in London to deal with the global financial crisis. Read more about it on http://www.londonsummit.gov.uk/en/.

The focus of the G20 summit was on Stability, Growth and Jobs.
The members are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.

Gordon Brown's closing speech at the G20 summit - headlines by BBC live broadcast on 2 April 2009 :

• Global problems require global solutions
• Agreed $1 trillion extra for IMF and other - increased liquidity
• Protectionist countries will be named and shamed - commitment to fight all forms of protectionism and maintain open trade
• Exchange of tax information - End to tax havens that aren't open to international scrutinity
• Banking secrecy of the past must end
• Sorting out problems of the banking system. Establish more confidence with the banks - people secured with homes and jobs. Regulatory system to deal with restructuring of banks.
• New rules on pay and bonuses globally
• Injection of $5 trillion to boost world economy - largest fiscal stimulus
• A new world order is emerging

French President Sarkozy: Conclusions are more than we could have hoped for..there will be more scrutiny and strighter regulation on funds.