[Graeme]

Summit pledge to 'restore growth'

Global leaders at the G20 financial summit in Washington have pledged to work together to restore global growth.

President George Bush said that finance minsters would now work on detailed reform proposals and report back.

In their communique, the leaders said they were determined to work together to achieve "needed reforms" in the world's financial systems.

"We are adapting our financial systems to the realities of the 21st century," said Mr Bush in his address at the end of the summit.

At the meeting in Washington, leaders pledged to "lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again".

At the same time, the summit has reportedly decided to aim for a new agreement on global free-trade - within weeks.

Brazil's foreign minister, Celso Amorim said the G20 financial summit would set a tight target date for a deal.

BBC

[Tanada]

Summit pledge to 'restore growth'

Global leaders at the G20 financial summit in Washington have pledged to work together to restore global growth.

President George Bush said that finance minsters would now work on detailed reform proposals and report back.

In their communique, the leaders said they were determined to work together to achieve "needed reforms" in the world's financial systems.

"We are adapting our financial systems to the realities of the 21st century," said Mr Bush in his address at the end of the summit.

At the meeting in Washington, leaders pledged to "lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again".

At the same time, the summit has reportedly decided to aim for a new agreement on global free-trade - within weeks.

Brazil's foreign minister, Celso Amorim said the G20 financial summit would set a tight target date for a deal.

BBC

Thanx for the link, anyone have a clue what energy resource they are going to use to resume infinite expansion of the economy?

[dissident]

The dollar. Every economist knows that money is the true source of energy.

[Tanada]

The dollar. Every economist knows that money is the true source of energy.

Oh Yeah, whatever was I thinking? And just remember the more of them we print the more energy we have to fuel the growth forever economy!!!!! [/sarcasm]

[the48thronin]

The dollar. Every economist knows that money is the true source of energy.

I think a better headline would have been:

World leaders grope cluelessly for ways to wring more profits for their campaign supporters.

[Eli]

really it sounds like a bunch of bs jaw boning to me. One big yawn.

[Graeme]

In the immortal words of Tanada, fer cryin out loud, stop whining like a 2-year old and act like a responsible adult. Even to a non-economist like me, concepts like sustainability are not too difficult to understand. We need stable population for a start. As for "endless" energy, how about fusion. We need every kind of stability, not growth. Solutions would be appropriate here not complaints.

[the48thronin]

In the immortal words of Tanada, fer cryin out loud, stop whining like a 2-year old and act like a responsible adult. Even to a non-economist like me, concepts like sustainability are not too difficult to understand. We need stable population for a start. As for "endless" energy, how about fusion. We need every kind of stability, not growth. Solutions would be appropriate here not complaints.

Solutions do these look like solutions to you?

1.reform of international financial institutions such as the World Bank and the International Monetary Fund

2.an agreement by the end of 2008, leading to a successful global free-trade deal

3.improvements to financial market transparency and ensuring complete and accurate disclosure by firms of their financial conditions

4.making sure banks and financial institutions' incentives should "prevent excessive risk taking"

5.asking finance ministers to draw-up a list of financial institutions whose collapse would endanger the global economic system

6.strengthening countries' financial regulatory regimes

7.taking a "fresh look" at rules that govern market manipulation and fraud.

LOL and noticing that is complaining now?

Achtung you will not question the "[s]leader[/s]"( er decider)!


edit to clarify bullet points in quote

[smallpoxgirl]

This was the key sentence I think: "Rather than coordinate action, nations should act `as deemed appropriate to domestic conditions,' they said. " In other words, the summit completely failed.

[the48thronin]

This was the key sentence I think: "Rather than coordinate action, nations should act `as deemed appropriate to domestic conditions,' they said. " In other words, the summit completely failed.

yes the end of globalism is at hand... No one was willing to give up their share of the pie!

Will the word derivative become a swear word referencing sexual conduct between non-consenting adults? ( it should)

[Micki]

I liked this one by Russia;

"It will be necessary to rebuild the whole international financial architecture, make it open and fair, effective and legitimate".

i.e. complete makeover.

[the48thronin]

I liked this one by Russia;

"It will be necessary to rebuild the whole international financial architecture, make it open and fair, effective and legitimate".

i.e. complete [s]makeover[/s] takeover.

I corrected it for you! LOL