Weekend News Digest is an Open Thread
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1 G20 aims at bank pay and capital; stimulus to stay
By Sumeet Desai and Louise Egan, Reuters
11 mins ago
|LONDON (Reuters) – G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
Although the global economy looks brighter than when the Group of 20 finance ministers and central bankers met in April, their closing statement said they would not remove economic stimulus until the recovery was well entrenched.
While the timing of these eventual policy reversals may vary, the G20 said for the first time there should be some coordination to avoid adverse international fallout.