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Showing posts with the label g 20 summit in seoul

G20 summit unearthing new world economy path

The Group of 20 has tried on Thursday  at Seoul of South Korea  to agree how to put the world economy on a sounder footing as renewed fears over Ireland's ability to pay its debts underscored the lingering fallout of the global financial crisis. The G20 had hoped to use the two-day summit to recapture the unity forged in the depths of the crisis two years ago in order to soothe tensions over exchange rates generated by imbalances between cash-rich exporting nations and debt-burdened importers. But even as U.S. President Barack Obama voiced confidence that leaders would find a formula for more balanced and sustainable growth, negotiators squabbled over the language in a closing statement to be issued when the summit ends on Friday. "The persistence of these imbalances is a problem in the long term and these things have to be addressed," said Canadian Prime Minister Stephen Harper. "Will they be addressed at this conference? I'm not so sure, but I think we'...