The leaders of Germany and France took aim at the banking sector on Monday, pledging to check banks' power and push for limits on bonus payments at a Group of 20 summit next month.
G20 policymakers meeting in London next week will likely pledge to maintain accommodative policies for as long as is needed, a G7 source told Reuters on Thursday.
G20 finance ministers will discuss next week how to curb excessive bankers' pay but the group of leading nations is not expected to heed a French call to cap and tax bonuses, officials and analysts said.
The immediate crisis may be over but G20 policymakers meeting next week must still find a way to rebalance the global economy if the world is not to be doomed to repeat the past.
G20 countries should ensure they have plans to withdraw the huge stimuli put into their economies but are clear the fiscal and monetary boosts remain in place for now, a UK government source told Reuters on Wednesday.
G20 countries should ensure they have plans to withdraw the huge stimuli put into their economies but are clear they must remain in place for now, a UK government source told Reuters on Wednesday.
French President Nicolas Sarkozy promised on Tuesday to fight for tougher controls on bankers' bonuses at a meeting of the Group of 20 leaders next month.
France will push for stronger commitments to limit bankers' bonuses at a meeting of G20 leaders in September, President Nicolas Sarkozy said on Tuesday.
There is a strong chance the United States and other leading economies will start growing again over the next few quarters, but big risks to the outlook remain, U.S. Treasury Secretary Timothy Geithner said on Monday.
The leaders of the Group of Eight -- United States, Britain, Germany, Italy, France, Russia, Canada and Japan -- plus European Commission President Jose Manuel Barroso and current EU president Sweden gathered in Italy to discuss the end of recession, financial regulation, Doha trade round.
Leaders from the Group of Eight major industrial nations will warn against complacency over economic recovery on Wednesday at a world summit that will also tackle trade, climate change and food security.
The police's public order tactics are inadequate, a review into April's G20 protests in London concluded on Tuesday, although it said the operation itself had been highly effective.
EU finance ministers meet
European Union finance ministers will meet today as they attend the Economic and Financial Affairs Council in Brussels. The Swedish's presidency program will be presented by the country's finance minister; Anders Borg. The agenda will also include preparations for this autumn's G20 summit, and issues related to the global economic crisis.
Some main events coming up this week.
U.S. Treasury Secretary, speaking about economic and financial recovery, urged leading industrial nations and emerging markets to continue policies focused on growth, saying it was too early to to shift toward restraint.
U.S. Treasury Secretary Timothy Geithner said on Saturday it was too early to start withdrawing stimulus for the world's top economies, but governments should start to outline plans for future fiscal sustainability.
Renewable energy's sliver of the multi-trillion dollar economic stimulus announced by the world's biggest economies falls far short of the investment needed to meet carbon emissions targets, the head of the International Energy Agency said on Monday.
A British police watchdog group will investigate a second suspected incident of police violence during demonstrations against the G20 this month after video footage emerged on Tuesday of an officer lashing out at a woman.
The U.S. Treasury Department announced on Monday that Group of Seven finance ministers will meet in Washington on April 24 and follow that gathering up with a Group of 20 ministerial session.
French people are feeling more confident about the economy than two months ago, partly in response to stimulus measures agreed at last week's G20 summit of world leaders, a survey showed on Wednesday.
At least $300 billion of the $1.1 trillion stimulus package agreed by G20 leaders last week should be allocated toward helping developing countries, U.N. Secretary-General Ban Ki-moon said on Sunday.
While G20 nations were unified in announcing $1 trillion in new financing to help the world’s economy recover, their approach to dealing with toxic assets clogging bank balance sheets will be a local effort as conditions vary by country.
