G20 agrees on an “action plan”, but details will have to wait

Saturday, November 5th 2011 - 08:02 UTC

Full article 4 comments

The G20, composed of the world's most powerful economies, come up Friday with an “action plan” to save the world economic and stabilize the global monetary system, according to an official statement from the Group of 20. The continuing Euro zone debt crisis has dominated the summit. Read full article

Comments

Disclaimer & comment rules

GeoffWard2
We have a type of Financial Transactions Tax in Brasil, but I have yet to be convinced it is worthy because of the absence of working checks and balances. Thus, the tax can be easily recouped by the 'authorities'/banks/etc by adding equivalent charges onto the transaction to cover the tax. So the total cost is borne by the end user, the 'man in the street'. OK, if that's the intention.
But it seems to me that there is a section of the world-public that think this Financial Transactions Tax will be a tax on the *Bankers* and banks to 'pay them back for what they have done to us'.

Again, you can help me out here.
Nov 05th, 2011 - 12:07 pm - Link - Report abuse 0
-+
ElaineB
I cannot see it happening. The US and UK are opposed to it for obvious reasons. Without their consent it will not happen.
Nov 05th, 2011 - 04:16 pm - Link - Report abuse 0
-+
Yuleno
Looks like we'll have to wait for them to agree among themselves what's best for them,and the rest of us will just have to carry on.the changes in power distribution should get revealed more clearly in the eventual settlement.draw out any savings you can't afford to lose as only the 'middle class' can be the resource centre to fund this action plan with no details or therefore agreement.it's only an agreement that something has to be done.let the fallouts begin weakest to the wall
Nov 06th, 2011 - 12:11 pm - Link - Report abuse 0
-+
briton
i feel the cure is already at hand, the problem already solved, if germany agrees the money, hense the delay,
they are,, i suspect waiting for a sweetener, from another country-
or countries to soften the blow,their problem, but if others can help shoulder the burden, the sweeter it would be for germany,
and the deeper, the helper would be commited, but if all else fails, and the desperate start to collaps, then a very reluctent germany will pick up the bill, germany may well have the money, and her leader is very willing to control, but she knows very well the german people are against it, and could well lose her ,,her job, if it goes pear shape
an interesting thought .
Nov 06th, 2011 - 07:53 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!