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Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1 trillion (£681bn).
To help countries with troubled economies, the International Monetary Fund (IMF) will get extra resources worth up to $750bn.
There will also be sanctions against secretive tax havens and tougher global financial regulation.
And the G20 has committed about $250bn to boost global trade.
Originally posted by sadchild01
the beginning of NWO.
good article , this was bound to happen and preplanned (refer Peter Beter on rockafeller/also protocols of zion)
[edit on 2-4-2009 by sadchild01]
We face the greatest challenge to the world economy in modern times; a crisis which has deepened since we last met, which affects the lives of women, men, and children in every country, and which all countries must join together to resolve. A global crisis requires a global solution.
We believe that the only sure foundation for sustainable globalisation and rising prosperity for all is an open world economy based on market principles, effective regulation, and strong global institutions.
We have today therefore pledged to do whatever is necessary...
We are undertaking an unprecedented and concerted fiscal expansion, which will save or create millions of jobs which would otherwise have been destroyed, and that will, by the end of next year, amount to $5 trillion, raise output by 4 per cent, and accelerate the transition to a green economy.
We commit today to taking whatever action is necessary to secure that outcome, and we call on the IMF to assess regularly the actions taken and the global actions required
We will support, now and in the future, to candid, even-handed, and independent IMF surveillance of our economies and financial sectors, of the impact of our policies on others, and of risks facing the global economy.
to take action against non-cooperative jurisdictions, including tax havens. We stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over.
We have committed ourselves to work together with urgency and determination to translate these words into action.
Originally posted by jam321
I'm sure the US pledged most, if not all, of that money, especially since it is easy to print money we don't have.
What I find funny is that they talk about boosting the world economy as a team. I give them a month before they start arguing with each other about unfair trading practices. Most of these countries are more worried about looking out for number one.
conceding U.S. culpability in starting the global financial crisis,
and accelerate the transition to a green economy.
which will save or create millions of jobs which would otherwise have been destroyed,
I thank President Bush for his service to our nation, as well as the generosity and co-operation he has shown throughout this transition.
An overdraft facility will also be increased to $250bn (in the IMF's currency, so-called Special Drawing Rights) that all members can call upon.
Originally posted by Mike_A
Out of interest, what would those who disagree with the G20 suggest be done instead?