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G20:Economic summit snapshot

The leaders of the Group of 20, or G20, of the world's most powerful countries are meeting in the US city of
Pittsburgh, to discuss the global economic crisis and measures which have been taken to deal with the crisis
and prevent similar crises in the future.
G20 countries

G20 members G7 members Show country names


G20 nations

G7 nations
Click on the links below to find out more about the economic challenges faced by member states and what
signs of recovery are starting to appear.
Argentina Japan
Australia Mexico
Brazil Russia
Canada Saudi Arabia
China South Africa
France South Korea
Germany Turkey
India United Kingdom
Indonesia United States
Italy European Union
ARGENTINA
One of South America's largest economies, Argentina was in economic difficulties even before the global
downturn struck.
Expansionary policies had caused the economy to overheat, fuelling
inflation, while tax revenues shrank because the country's farm exports
were fetching lower prices on world markets.
The government responded to the fall in tax revenues by increasing
taxation on agricultural exports, a move that sparked continuing protests
by farmers.
President Cristina Fernandez, who came to power in December 2007,
nationalised the private pension system in November last year to help
plug the hole in the government's finances.
But the row over taxation gave the government a confrontational image
that contributed to its defeat in congressional mid-term elections in
June. Argentine farmers resume strikes
Previously privatised companies such as Aerolineas Argentinas have also Defeat shakes Argentine first
returned to state control. couple
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AUSTRALIA
Australia has experienced a long period of stable economic growth since its last recession in 1991, benefiting
from the rise of China and India as markets for its raw materials.
However, its resources-based economy has struggled since the LATEST NEWS
worldwide financial turmoil began in the middle of 2008.
Its mining firms are cutting back on capital spending, reducing staff
numbers and mothballing projects.
In February, the government of Prime Minister Kevin Rudd announced a
42bn Australian dollar ($26.5bn; £19bn) stimulus plan, to try to shield the
country from the global downturn, and Australia has been one of the few
developed countries to avoid slipping into recession.
The Australian economy grew by 0.6% in the three months to the end of
June, following growth of 0.4% in the first quarter of 2009. The economy
had contracted by 0.5% between October and December of last year.
But despite its efforts, the government has warned that the
unemployment rate could hit 8.5% by mid-2011. Australian growth beats forecasts
Return to the top Australia hit hard by mining slump
BRAZIL
It was confirmed this month that Latin America's biggest economy has exited recession after it expanded by
1.9% in the second quarter.
The return to growth means that Brazil's recession was comparatively LATEST NEWS
short, amounting to just two quarters of negative growth.
Foreign investors have been putting money into Brazil recently in the
hope that its economy would recover more quickly than other countries.
The Ibovespa stock market index has been reaching levels not seen
since before the global financial crisis.
Brazilian President Luiz Inacio Lula da Silva has argued that developed
countries should not turn to protectionism, and has pushed for a greater
role for developing countries in the world economy.
This week's G20 summit in the US is expected to call for major reforms
to promote a more balanced global economy, which would see countries
in Europe and the US save more, while fast-growing countries such as
India and China would spend more to boost global growth. Brazil's economy leaves recession
However Brazil has said it does not agree with the proposal, calling it Brazil to make $10bn loan to IMF
"obscure".
Brazil has also said it will offer $10bn in financing to the International Monetary Fund to help improve the
availability of credit in developing countries.
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CANADA
Thanks to the North American Free Trade Agreement (Nafta), Canada's economic health is closely linked to
that of the US, which buys three-quarters of its exports.
The ailing car industry, for instance, is as big a problem for Ottawa as it LATEST NEWS
is for Washington. As a result, Canada has copied many of the US
government's tactics, such as cutting interest rates and drawing up
stimulus packages, although with the same lack of success.
However, Canada's banking sector and housing market are in better
shape than in the US, with far fewer sub-prime mortgages.
In February, the Canadian parliament passed a 40bn Canadian dollar
($32bn; £23bn) economic stimulus package as part of the country's
annual budget.
But it did not stop the economy contracting at the fastest rate since 1991
in the first three months of 2009.
The economy shrank by 5.4% on an annualised basis during the quarter,
though this was better than expected. Canada approves stimulus plan
Return to the top Canadian economy in sharp
CHINA decline
The global downturn failed to prevent China overtaking Germany as the world's third-largest economy.
In fact, China's economy has shown signs of improvement recently, with LATEST NEWS
the Asian Development Bank raising its growth forecast for the country
for 2009 and 2010.
And annual growth rates of both industrial output and retail sales rise in
July, and foreign investment increased in August.
But the downturn has had serious consequences for the country. Its
banks have not felt the impact seen elsewhere, but ordinary people have
- with migrant workers especially hard hit.
Chinese exports have been hit hard by falling world demand, with millions
of rural migrants returning to their villages after the factories that
employed them closed down.
While China's growth remains relatively strong compared with other
countries, it has launched a $587bn stimulus package and has China economy shows
underlined that it now has the largest deficit in 20 years. improvement
At September's UN climate change summit in New York, President Hu China's climate policy shift
Jintao marked a change in the country's climate change policy when he pledged to improve energy efficiency
and curb the rise in China's carbon dioxide emissions.
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FRANCE
France became one of the first European countries to exit recession, together with Germany, when official
data showed the French economy grew by 0.3% between April and June.
Finance and Economy Minister Christine Lagarde called the data "surprising", but said consumer spending and
strong exports had helped boost GDP.
LATEST NEWS
Unlike most other G20 countries, France had seen social unrest in
response to the global downturn, with millions of workers taking industrial
action at the beginning of the year in protest at the government's
handling of the economic crisis.
In February, the government announced a 26bn-euro ($33.1bn; £23.5bn)
initiative designed to revitalise the economy.
France has pushed hard for tougher financial regulation. The G20
agreement, signed in April, provides for stricter controls on bankers' pay
and bonuses, more regulation of hedge funds and ratings agencies, and
sanctions against tax havens.
At the time, President Nicolas Sarkozy said the deal went "well beyond
what we had imagined". France and Germany exit recession
But since then, France has played a leading role in the European Union's France demands tougher G20 rules
proposed Alternative Investment Funds Directive - aimed at further regulation of hedge funds, private equity
and other alternative investment funds - putting it at odds with the UK and the US, who are wary of imposing
overly-stringent rules.
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GERMANY
Like France, Germany is no longer in recession, after surprise GDP data showed the economy grew by 0.3% in
the second quarter.
The Federal Statistics Office said that household and government expenditure had boosted growth, adding
that imports has declined far more sharply than exports.
Earlier this year, the government had forecast the German economy, which accounts for about a third of
eurozone output, would shrink by 6% in 2009. That would be by far its worst performance in the post-World
War II era.
In February, the country approved a 50bn-euro ($63bn, £44bn) stimulus LATEST NEWS
plan, and Chancellor Angela Merkel said Germany would emerge from the
economic crisis stronger than when it entered it.
Germany also launched a car scrappage scheme in February - in which
drivers receive a cash incentive to scrap their old car and buy a new one
- to boost the ailing car industry.
The scheme has been widely deemed a success, with more than 1.7
million applications received so far.
Along with France, Germany has also been calling for more regulation of
financial markets and was a key player in the EU's proposed Alternative
Investment Funds Directive.
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INDIA France and Germany exit recession
The Indian government under Prime Minister Manmohan Singh is well France and Germany united at G20
placed to embark on economic changes, having won a new term with a strong margin in May.
In July's budget, Finance Minister Pranab Mukherjee said the government's "first challenge" would be to return
to a growth rate of 9% a year "at the earliest".
LATEST NEWS
The Indian economy grew 6.7% in the year to the end of March 2009, but
had grown by an average of 8.8% in the previous five years.
Agriculture, which makes up about a fifth of the economy, was one of
the sectors to see growth fall, while industrial firms such as Tata have
been severely affected by the freeze in world credit markets and a
general fall in global spending.
In the budget, the government also increased spending on urban poor
schemes and the jobs-for-work scheme to help the poor.
Although India's economy has undoubtedly been affected by the global
recession, Prime Minister Singh has said he has no intention of going to
the IMF for help - an institution he partly blamed for the economic
downturn, saying it had conducted "too little surveillance of the affairs of India outlines growth challenge
the developed countries". Indian growth unexpectedly strong
Mr Singh has also shared France and Germany's concern for greater regulation of financial markets.
He has said he is happy that his country has been admitted to two key standard-setting bodies.
"India has now been made a fully-fledged member of the Financial Stability Forum [and] also the Basel
Banking Committee. This from India's point of view is a plus factor," he said.
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INDONESIA
Globalisation has been a significant economic benefit for Indonesia in recent years.
Thanks in no small part to a big growth in manufacturing facilities for major multinationals, its economy grew
6.1% in 2008.
However, with Western firms cutting back production towards the end of LATEST NEWS
the year, Indonesia's exports dropped sharply in the final three months of
the year.
To help lift the economy, the government of President Susilo Bambang
Yudhoyono has passed a $6bn (£4.3bn) fiscal stimulus.
But with overseas debts estimated at $151.7bn, the government has its
own financial woes.
And critics say it is not doing enough to stamp out corruption that
continues to deter some would-be investors.
In July, the country was also rocked by deadly blasts at two hotels in the
capital Jakarta, leaving many worried about the impact this would have
on Indonesia's reputation, especially among foreign investors and
tourists. Corruption classes in Indonesia
Return to the top Haggling to make ends meet
ITALY
The Italian economy, the third-largest in the eurozone, was one of the first to enter recession.
Its economy has now shrunk for five quarters in succession, although the LATEST NEWS
0.5% contraction in the second quarter was smaller than expected and
much smaller than the 2.7% contraction seen in the first quarter.
The latest figures have raised hopes that the country's recession may be
easing.
Italy was also one of the first to approve a stimulus programme. In
November, the government of Prime Minister Silvio Berlusconi approved
an 80bn euro ($102bn; £66bn) emergency package that included tax
breaks for poorer families, public works projects and mortgage relief.
Italy has the world's third-highest debt burden, expected to top 110% of
GDP this year.
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JAPAN Italian economy shrinks by 0.5%
Japan is one of only two G20 members to have had a change of French and Italian output falls
leadership since the London summit - the other being South Africa.
New Prime Minister Yukio Hatoyama promised economic revival and strong US ties just hours after emerging
victorious in September's election.
The world's second biggest economy will now be led by an untested LATEST NEWS
government, after Mr Hatoyama's Democratic Party ended 50 years of
almost unbroken Liberal Democratic Party rule.
Japan followed fellow G20 members Germany and France out of
recession, when it was confirmed that its economy grew by 0.9% in the
second quarter.
But many analysts say the rise was due to a $260bn (£159bn)
government stimulus package, and are uncertain as to how long growth
will continue for.
The slowdown in the economy was steeper than that being experienced
in the US or Europe, as Japan has been hit particularly hard by falling
global demand for its products, particularly electronic equipment and
cars. New PM cements Japan power shift
Consumers have cut back too, alarmed by rising unemployment. And its Japan's economy leaves recession
exports plunged in the first half of the year.
Japanese banks were hit hard by declines last year in the stock market, as they own stakes in many
companies to strengthen business ties. But as the stock market recovers, banks hope for an upturn in their
fortunes.
MEXICO
The Mexican economy is so intertwined with that of the US that when Wall Street sneezes, Mexican firms can
find themselves in intensive care.
About 80% of Mexico's exports go the US, leaving the country vulnerable LATEST NEWS
to falling US demand.
Mexico also thrives on remittances from workers who have migrated to
the US, but these have fallen for the first time since records began in
1995.
The outbreak of swine flu has hit the country's tourism industry hard and
also led to some countries banning imports of pork products or pigs from
Mexico, despite experts saying the virus cannot be caught from eating
pork.
The finance ministry has warned that the flu could cost the country's
economy more than $2bn.
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RUSSIA Mexico hit hard by US recession
Russian President Dmitry Medvedev said he was content with the results Mexico granted $47bn IMF credit
of the G20 summit in April and that it represented a "step in the right direction", according to Russian news
agency Itar-Tass.
Russia's economy is reeling from the effect of a sharp fall in the price of oil.
LATEST NEWS
The economy shrank at an annualised pace of 10.9% in the three months
to 30 June but compared with the first quarter it expanded 7.5%. Mixed signs for Russian economy
Social unrest has already broken out in Vladivostok, while the financial Crisis hits Russia's super-rich
crisis has cut the combined fortune of the 10 richest Russians by 66% to
$75.9bn, according to business magazine Finans.
Overseas investment in the country is also being deterred by the perception that state-run firms bully or
intimidate foreign companies into handing over control of their investments.
There is also widespread cynicism as to how much President Dmitry Medvedev is really in control, and whether
power really lies with Prime Minister and former President Vladimir Putin.
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SAUDI ARABIA
The Saudi kingdom is the only G20 country that also belongs to oil producers' cartel Opec (Indonesia allowed
its membership to lapse at the end of 2008).
The global downturn has led to lower demand for energy, further LATEST NEWS
depressing world oil prices, despite Opec's attempts to cut output.
When oil prices were at their peak, Saudi Arabia was making $1bn a day.
That figure now stands at about $700m.
As a result, the International Monetary Fund predicts that Saudi Arabia
and its neighbours will record fiscal deficits of up to 3.1% of GDP in
2009, a marked decline from surpluses of 22.8% of GDP in 2008.
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SOUTH AFRICA
Following May's elections, Jacob Zuma replaced Kgalema Motlanthe as
president and pledged to bring down "unacceptably high" levels of
unemployment and create half a million jobs this year.
Mr Zuma's ANC party has also said LATEST NEWS Middle East feels oil price pinch
it will make fighting poverty a Major reshuffle in Saudi Arabia
priority. It has promised a Canadian-styled National Health
Insurance System, a "food for all" scheme, more child grants to poor
families, and universal access to water and sanitation by the time of
the next election.
South Africa has the continent's biggest economy and is the only
African member of the G20.
The country has said it is facing its worst recession in 17 years. Its
economy shrank 3% in the second quarter following a 6.4% contraction
in the first three months of 2009.
Mr Zuma has said a three-year 787bn rand ($98bn; £60bn) spending
programme announced in this Zuma promises half a million jobs year's budget - and including funds
for schools, transport, housing and Analysis: Zuma's challenges sanitation - must be properly
planned.
Like Brazil, it fears that the global downturn will lead to a rise in protectionism in rich nations, making it even
harder for developing countries to gain a foothold in key markets and increasing their sense of economic
isolation.
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SOUTH KOREA
The government in Seoul, like its neighbours in the region, fears that the global slowdown could lead to a
repeat of the 1997-98 Asian economic crisis.
But the country returned to economic growth in the first half of this year.
Its economy grew by 2.3% in the second quarter, following growth of
0.1% in the first quarter and a contraction of 5.1% in the last three
months of 2008.
The country's central bank has said increased government spending,
help for car buyers and record low interest rates have helped boost the
economy.
In November last year, the government announced a stimulus package
worth 14 trillion won ($10.9bn; £6.6bn) to boost the economy, with 11
trillion won aimed at public projects and three trillion won for tax cuts to
encourage spending.
But some analysts have questioned whether growth will continue, as South Korea economy grows 2.3%
fiscal stimulus wanes and credit expansion slows. South Korea's $11bn economy plan
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TURKEY
As it tries to revive its EU membership bid, Turkey has been talking up its response to the downturn as
evidence that its reactions are those of a developed country, not an emerging market.
The week before the G20 summit in Pittsburgh, Turkey's central bank cut LATEST NEWS
its benchmark interest rate further in September to 7.25% even as
tentative signs emerged that the country's economy is stabilising.
After contracting heavily in the first three months of the year, the Turkish
economy bounced back, expanding by around 5% in the second quarter.
However, the unemployment rate remains above 13%.
Investors are waiting to see if Turkey will sign a loan deal with the IMF,
after the last one expired over a year ago, although analysts are divided
on whether the country needs it.
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UNITED KINGDOM
Asked what British voters would get out of the G20, Prime Minister
Gordon Brown stressed the importance of countries working together to Turkey tries to revive EU drive
overcome the economic crisis, saying the agreement would help people Which direction for Turkey now?
in Britain and overseas.
He called the G20 deal a "very significant step towards recovery", saying LATEST NEWS
it would help rebuild confidence in the financial system in the UK and
abroad.
However, unlike France and Germany, the UK is reluctant to enforce
tough regulation on hedge funds, fearing that such plans will harm the
City as an international financial centre.
The International Monetary Fund expects the UK to suffer the worst
contraction among advanced nations in 2009, with its economy predicted
to shrink by 4.2%.
The Bank of England has already cut interest rates to just 0.5% in a bid
to help the British economy out of recession, while unemployment is now
almost 2.5 million - the highest level since 1995.
It has also recently added another £50bn of new money to its initial 'Fragile recovery' for UK economy
£125bn programme of quantitative easing to pump more funds into the UK jobless total climbs to 2.4m
economy by purchasing government bonds.
Troubles in the banking sector have led the government to bail out some of the country's biggest financial
institutions, including Royal Bank of Scotland, in which it now holds a 68% stake.
The UK government has also followed its counterparts elsewhere in Europe and introduced a car scrappage
scheme to help the ailing motor industry.
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UNITED STATES
President Barack Obama said the "historic" agreements reached at the London summit could mark a "turning
point" in the pursuit of economic recovery and reforming the regulatory financial system.
The global economic turmoil began in the US, thanks to the sub-prime mortgage crisis in which
underperforming home loans were repackaged and sold on as toxic debt.
In June, the government announced major reforms to banking regulation, LATEST NEWS
in what President Obama called the biggest shake-up of the US system
of financial regulation since the 1930s.
The reforms require big banks to put more money aside to cover any
future losses and to curb risk taking, and give the Federal Reserve the
authority to monitor major financial institutions.
They also call for global regulatory standards and more co-operation.
The Fed has cut interest rates to near zero in a bid to unfreeze the credit
markets and recently suggested the worst of the recession is over.
But there are still problems in the wider economy, with the unemployment
rate at 9.6%.
The car industry in the US has been battered by a global slump in
demand, and both Chrysler and GM had to briefly enter Chapter 11 US unveils banking reform plans
bankruptcy protection. Car sales have been boosted though by the Q&A: Obama stimulus plan
introduction of a scrappage scheme.
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EUROPEAN UNION
Some European countries exited recession in the second quarter, but the EU economy as a whole is still
expected to shrink by 4% in 2009.
The EU, led by Germany and France, has put forward proposals for even LATEST NEWS
tighter hedge fund regulation, although the UK believes they would be
anti-competitive. Sarkozy to press for 'Tobin Tax'
Sixteen of the 27 European Union countries share the euro as their EU heads back financial
common currency. Their individual economic performances vary clampdown
considerably, but the eurozone as a whole has been in recession since
September 2008.
G20: Pledge by pledge
Leaders of the G20 group of the world's most powerful countries pledged to bring
the world economy out of recession when they met in London in April.
As they meet in Pittsburgh, five months later, just how far have their governments
gone in meeting some of their key commitments?

In April, headlines trumpeted a $1.1 trillion deal to help countries fight the economic crisis.
Much of this funding was to be directed toward the International Monetary Fund.
The G20 has succeeded in increasing the IMF's lending capacity by $500bn to $750bn.
The target was only met earlier this month after the EU increased its initial pledge of about
$100bn to $178bn. Only a tiny fraction of this ($2.3bn) has so far been allocated
The IMF has allocated an additional $250bn worth of reserves to member countries
that can be tapped when needed. Around $100bn has been allocated to developing countries
The IMF has also approved its first major sale of gold since 2000 to raise money for
additional financing for poor countries. The sale of 403 metric tonnes of gold should raise
$13bn - more than the $6bn asked for by the G20
The G20 also pledged to help boost trade by providing $250bn worth of financing, with
$50bn expected to come from the World Bank. The G20 says that $65bn has been taken up
so far. For its part, the World Bank has only received commitments of $7.8bn from donors
The G20 said it would support an increase in lending to poor countries of at least
$100bn through multilateral development banks (MDBs). The G20 says MDBs are planning to
lend an extra $110bn this year but concrete figures are hard to come by and it's not clear if
this is from fresh or existing funding.
G20 governments pledged a total of $5tn in stimulus measures to boost their own economies,
predicting that the extra cash would increase global economic output by 4% by the end of
2010.
However, few countries have detailed exactly how much they have spent and the IMF's own
estimate is slightly more cautious at 2% of GDP in 2009 and 1.5% of GDP in 2010.
UK Prime Minister Gordon Brown has suggested that more than half of the $5tn has yet to be
committed and has warned against switching off "the economic life support".
However, the debate in Pittsburgh is likely to turn to how the the global economy can wean
itself off the extra support now that there are signs of a recovery.
There are also fears that increased public spending could jeopardise any rebound given high
levels of government debt and the deficits they have created in some countries.

For historical reasons, smaller European countries like the Netherlands and Switzerland are
over-represented on the IMF board in relation to the size of their economies, while emerging
giants like China are clamouring for more power.
Reform has long been regarded as necessary but calls have gathered pace in the wake of the
financial crisis.
According to a draft G20 communique, an agreement has been reached on how to shift voting
power to under-represented countries. It calls for a shift in voting power by at least five
percentage points away from developed countries.
If implemented, the move would hurt EU countries most, with France and the UK expected to
see a dilution in voting power.
It would also be a big win for the Obama administration, which proposed the 5% shift.

The G20 agreed in April that hedge funds, which have been subject to much less regulation
than other investment funds, should be better supervised as part of wide-ranging measures
to strengthen financial oversight.
The EU has proposed a draft law that would subject the industry to much tougher rules and
make them more transparent. Funds which didn't abide by the rules would not be able to
operate in its 26 member countries.
The UK thinks parts of the draft law go beyond what is required to make the sector safer and
could drive hedge funds out of London, where many are now based.
However, there is broad agreement among G20 members that hedge funds should be
required to submit more information and data to regulators.
The G20 reckons there has been most progress on this issue, with governments eager to
boost tax receipts as the recession hits public finances.
Since April 2009, 13 jurisdictions, including Belgium and Austria, have implemented
internationally agreed tax standards, according to the OECD which monitors tax matters.
Switzerland and Liechtenstein remain on a "grey list" of about 33 tax havens but have agreed
to co-operate with foreign tax authorities.
The G20 has given tax havens until March 2010 to co-operate on tax evasion or face
sanctions.

Still to implement agreed tax standards: Andorra, Anguilla, Antigua and


Barbuda, Bahamas, Belize, Brunei, Chile, Cook Islands, Costa Rica, Dominica,
Gibraltar, Grenada, Guatemala, Liberia, Liechtenstein, Malaysia, Marshall
Islands, Monaco, Montserrat, Nauru, Netherlands Antilles, Panama, Philippines,
St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Samoa, San Marino,
Singapore, Switzerland, Turks and Caicos Islands, Uruguay, Vanuatu
Source: OECD

There has been broad backing for restrictions on banking bonuses, which have been blamed
for encouraging excessive risk-taking by some in the financial industry.
Individual countries have already enacted some measures, but the US and UK have
rejected calls for mandatory caps on bonuses. Given this disagreement, the G20 is most likely
to agree some kind of "set of principles" for banker compensation.
Broadly speaking, European countries - France, Germany and the Netherlands - are taking
tougher action than the US and UK.

The G20 in April agreed to establish the Financial Stability Board to make the financial system
less vulnerable to future crises by encouraging cross-border cooperation on regulation.
Based in Basel, Switzerland, the international agency is a beefed-up successor to the Financial
Stability Forum and brings together national regulators to discuss issues such as banker pay,
accounting standards and requiring banks to hold more capital to absorb losses.
It held its second meeting earlier this month and will submit papers to the G20 in Pittsburgh
on bonuses, on progress since the first summit and what future steps need to be taken to
better regulate the financial industry.
To date, however, the most concrete steps on strengthening financial regulation have taken
place at the national level and it is not yet clear how important a body this will become.
The G20: Thoughts from a summit
The gathering in Pittsburgh this week means different things
to different people.
For some it is one of the most important of their career, for
others a chance to protest or merely an annoying cause of
the homeward bound traffic.
But what do people in Pittsburgh - both visitors and residents
alike - make of it all?
CAITLIN WOODSON, COFFEE SHOP MANAGER
I wish we did not have to board up
all our windows - I don't think it
should be necessary.
There are better ways to protest
than smashing our windows!
But it is great they chose
Pittsburgh for the G20, and I hope
that more good will come of it in
the future.
LUKE RAVENSTAHL, MAYOR OF PITTSBURGH
It is wonderful for Pittsburgh - I am honoured that the president
chose us for the G20.
It allows us to showcase our successes and reintroduce Pittsburgh to
the world.
I am honoured that - as mayor - I get the opportunity to tell
Pittsburgh's story.
I am the city's biggest cheerleader!
JOSE MANUEL BARROSO, PRESIDENT OF THE EU
Delivery is the key word.
We agreed on the principles in
London, but now we need delivery
on financial regulation and
supervision.
We need to do our best to create a
level playing field.
PATRICIA LERNER, GREENPEACE
SENIOR POLITICAL ADVISER
The leaders of developed countries at the G20 have a choice: break
the climate talks deadlock by providing finance - or not.
TINA MIDILI AND RONALD COLMAN, DELEGATION DRIVERS
Ronald: For me, the G20 means
money!
I already put all of Wednesday's
pay towards next year's cruise!
Tina: The city is weird right now-
eerie and quiet.
NGOZI OKONJO-IWEALA, WORLD
BANK MANAGING DIRECTOR
This G20 is significant because the developing world is increasingly
being seen as an important voice that must be heard.
Not just because it is the right thing to do in terms of addressing the
issues of poor countries, but because it is the smart thing to do in
terms of building sustained global economic growth.
MARLO BARRERA, STUDENT AND G20 PROTESTOR
It is unacceptable that the top 20
countries get to decide what is
best for the rest of the world.
That is why I am protesting.
I am also angry at the way people
are being treated by the police.
WAYNE SWAN, AUSTRALIAN
TREASURER (FINANCE MINISTER)
We are bringing the major global economies together here.
It is historic - and a long overdue step.