Friday, April 3, 2009

Summiteers OK big loans, no econ rescue stimulus - Yahoo! Finance

Besides promising $1.1 trillion for lending to less-well-off countries -- an effort to erect an economic firewall and prop up remaining markets for bigger nations' exports -- the Group of 20 industrial and developing countries vowed major efforts to clean up banks' tattered balance sheets and get credit flowing again, to shut down global tax havens and to tighten regulation over hedge funds and other financial high-flyers in the U.S. and elsewhere.But French President Nicolas Sarkozy and German Chancellor Angela Merkel failed to get the powerful "global regulator" they sought with authority across borders, an idea opposed by the United States. The leaders did agree to some expanded international oversight, including cracking down on hedge funds and tax havens.
Summiteers OK big loans, no econ rescue stimulus - Yahoo! Finance

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