One of the expected sticking points at the G20 this past weekend in Toronto, was the growing tension between the need to continue to provide stimulus for the global economy, while still addressing growing deficits. European countries in particular, have made recent moves to drastically curtail spending, causing concern in other G20 countries that the pullback in spending could tip the economy back into recession.
In the end, a compromise brokered by Canadian Prime Minister and host of the summit Stephen Harper, was accepted. The central point of the agreement will continue stimulus spending in the short-term, with a longer-term goal of reducing deficits by 50 percent in three years.
Source: BBC News
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012