Reuters: G20 Closes Ranks but Skims Over Toughest Tasks

In particular, the leaders were unable to reach a consensus on how to identify when global imbalances pose a threat to economic stability, merely committing themselves to a discussion of a range of indicators in the first half of 2011.

Tim Condon, head of research at ING Financial Markets in Singapore said it was “hard to disagree” with the vows of the leaders but they had fallen short of the progress hoped for going into the summit.

“They decided just to put down a lot of laudable objectives as the conclusion of the meeting and hope that they can do better, that more can be accomplished in future meetings,” he said.

The G20 has fragmented since a synchronized global recession gave way to a multi-speed recovery.

Read it all.


Posted in * Culture-Watch, * Economics, Politics, Economy, G20, Globalization, Politics in General