FROM THE ASSOCIATED PRESS TODAY...
"World leaders pledged $1.1 trillion in loans and guarantees to struggling countries and agreed Thursday to crack down on tax havens and hedge funds — but failed to reach sweeping accord on more stimulus spending to attack the global economic decline.
At the end of a highly anticipated one-day gathering, leaders of the Group of 20 nations said they would upgrade an existing financial forum to serve as an early warning monitor to flag problems in the global financial system.
They did not, however, satisfy U.S. and British calls for new stimulus measures. Nor did European politicians get their goal of a global financial super regulator.
The leaders did bridge several gaps between the United States and some European nations over how far to regulate the market and how to curb the excesses that sparked the global economic crisis.
Read the whole story here. Image via www.pbs.org/.../business/0402_g20.jpg
G20 Pledges New IMF Aid, Passes on Stimulus Moves
G20 leaders took big steps toward reforming a "failed regulatory system" that helped create the global economic crisis, President Barack Obama said after the summit concluded in London Thursday.
FROM THE ONLINE NEWS HOUR...
The G20 leaders pledged an additional $1.1 trillion in financing to the International Monetary Fund and other global financial institutions and announced plans to regulate tax havens and hedge funds as part of the final statement to emerge from the emergency summit.
Read more here.
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