Finance ministers of the largest industrial countries vowed on Saturday to keep their multitrillion-dollar stimulus efforts in place, but at a meeting here they failed to agree on any firm limits on bankers’ bonuses, a sign of the deep rifts that remain between American and European leaders.
The ministers did agree on a blueprint to raise capital requirements at banks to strengthen the world financial system as the recovery takes hold, a major goal of the United States Treasury secretary, Timothy F. Geithner.
Regarding the higher capital requirements, Mr. Geithner said here that his goal was to reach a final agreement on the new standards by the end of next year.
Mr. Geithner added that while concerted action by central banks and governments had “pulled the global economy back from the edge of abyss,” he added that “conditions for a sustained recovery led by private demand are not yet established.”