G20

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G20 Protest Turns Violent
 G20 Protest Turns Violent 

G20 Protest Turns Violent

Demonstrators scuffle with police outside Bank of England

(Newser) - Skirmishes have broken out in front of the Bank of England in London's financial district, and police officers have been pelted with paint and bottles, the Guardian reports. Several thousand people have gathered in the City, and protesters have been shoving against the pens erected to contain them. The diverse...

Sarkozy: World Growth Must Come First

French prez urges G20 to work for better kind of capitalism

(Newser) - Today's G20 talks must focus on restarting global growth through a better-regulated form of capitalism, Nicolas Sarkozy writes in the Washington Post. The international financial system needs urgent restructuring, writes the French president, and confidence cannot be effectively restored unless reforms are carried out with a greater sense of morality...

Obama, Brown Push for Urgent G20 Action

President and PM want tougher bank rules to end recession

(Newser) - Barack Obama and British PM Gordon Brown today urged G20 members to “do whatever is necessary” to fix the global economic crisis, the Guardian reports. The two world leaders held a joint press conference on the eve of the G20 summit, at which Obama declared “the separation between...

Massive Security Steels for G20 Protests

London's financial district braces for worst

(Newser) - London's financial district is on lockdown ahead of a day of protests by activists and opponents of the G20, reports the Financial Times. The government will deploy up to 5,000 officers in the largest police operation in British history, and banks such as UBS have also hired private security...

Obamas Arrive in Britain
 Obamas Arrive in Britain 

Obamas Arrive in Britain

President readies for G20 summit tomorrow

(Newser) - President Obama has arrived in Europe, with a hefty economic and political agenda for his first journey across the Atlantic since taking office two months ago. The first stop for the president and first lady was London, with the focus on the G20 meeting of the world's major economic powers...

10 Tax Havens Agree to Curtail Bank Secrecy

Brown will announce G20 deal with Switzerland, Monaco

(Newser) - Ten tax-haven nations—including Switzerland, Liechtenstein, and Monaco—will share information with other countries about suspected tax dodgers in a deal to be announced at this week’s G20 summit, the Telegraph reports. The deal is a coup for PM Gordon Brown, who is hosting the summit and who has...

Obamas Off on Euro Tour
 Obamas Off on Euro Tour 

Obamas Off on Euro Tour

(Newser) - Barack and Michelle Obama set off this morning for Great Britain, the first stop in an ambitious European tour centered on the G-20 meeting Thursday. Obama will be pushing a hefty agenda on this trip, Reuters reports, championing proposals to bring greater international regulatory oversight to hedge funds and “...

Medvedev: Obama and I Must Work Together

Russian president praises and needles US in op-ed

(Newser) - Relations between the US and Russia were testy, to say the least, by the end of 2008—a condition for which Dmitry Medvedev, not surprisingly, blames Washington. In a needling op-ed for the Washington Post, the Russian president writes that the proposed missile defense system and support for Georgia and...

Thatcher's 'Big Bang' Free-for-All Led to Bust
Thatcher's 'Big Bang'
Free-for-All Led to Bust
ANALYSIS

Thatcher's 'Big Bang' Free-for-All Led to Bust

Pioneers of British '80s deregulation dismayed at unforeseen 'side effects'

(Newser) - The British regulatory reforms that changed the face of the financial industry in the '80s allowed banks to become bloated giants, two architects of the so-called "Big Bang" changes tell the Wall Street Journal. The deregulation let London's financial sector flourish, the men say, but also allowed banks to...

Sarko Threatens to Walk Out of G20 Summit

French prez seeks tough financial regulations—or else

(Newser) - Nicolas Sarkozy may walk out on the G20 summit if things don't go his way, the Times of London reports. The French president—who blames "Anglo-Saxons" for the financial crisis—is pushing for tougher global financial regulation and has told his ministers that he will abandon the talks if...

Merkel Emerges as Obama's Main Rival

German chancellor emphasizes friendship, but opposes stimulus

(Newser) - Angela Merkel stresses that she is a friend of the United States and wants Washington to play "a strong role in the world"—but ahead of the G20 summit this week, the German chancellor has emerged as the strongest and most unwavering opponent of Barack Obama's call for...

Obama: G20 Will Prepare World for Recovery

Upbeat prez dismisses rift with Europe over need for stimulus

(Newser) - Barack Obama voiced optimism for a global deal at this week's G20 summit in London and downplayed talk of a split between the US and Europe, in his first interview with a foreign publication, the Financial Times. Saying that "we need stimulus and we need regulation," the president...

G20 Protest Draws 35K to London Streets

(Newser) - Security patrols for next week's G20 summit, take note: A protest in London today drew an estimated 35,000 people, about three times as many as expected, the Guardian reports. Organizers of the march—a coalition of unions, church groups, and charities—are pushing for movement on “jobs, justice,...

Safety Nets Help Europe Resist Stimulus
Safety Nets
Help Europe
Resist Stimulus
ANALYSIS

Safety Nets Help Europe Resist Stimulus

Protections for workers put in place long ago may lessen the need

(Newser) - Ahead of next week's G20 summit, the US and Europe are engaged in a major dispute over the best way to end the global recession: Washington wants more stimulus, while Germany and other EU nations say they've done enough. One overlooked factor in the debate, writes Nicholas Kulish in...

Obama to G-20: We Must Act Fast on Crisis
Obama to G-20: We Must Act Fast on Crisis
OPINION

Obama to G-20: We Must Act Fast on Crisis

Responds to Europe's stimulus reluctance with global op-ed blitz

(Newser) - President Obama published an op-ed piece in more than 30 newspapers worldwide today, urging the G-20 nations to take immediate, bold action to fix the economy. “The United States is ready to lead,” he wrote in the Los Angeles Times, among others, “and we call on our...

Free Trade Under Fire as Protectionism Surges

November's G-20 agreement is abandoned as nations erect commerce barriers

(Newser) - The global recession has protectionism making a comeback, the New York Times reports, dimming hopes that leaders can create lasting solutions to the crisis at April’s Group of 20 economic summit in London. The last G-20 meeting, held in November, yielded an agreement to promote free trade that was...

G-20 Vows to Spur Lending
 G-20 Vows to Spur Lending 

G-20 Vows to Spur Lending

(Newser) - The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and...

Liechtenstein to Open Tax Books; Pressure's on Swiss

International pressure bends EU nation, but Switzerland is the prize

(Newser) - Liechtenstein, bowing to international pressure, said today it would adopt international standards on transparency in tax matters, turning the screws on other tax havens like Switzerland, the New York Times reports. Yesterday, the Organization for Economic Cooperation and Development added Switzerland, Luxembourg, and others to a list of tax havens...

Geithner Urges G20 to Pump Up Global Economy

Treasury seeks billions to help IMF prop up struggling nations

(Newser) - Tim Geithner is calling on the other G20 nations to help the US get the global economy back on its feet, the Washington Post reports. The Treasury secretary, who leaves for a G20 summit tomorrow, said in a briefing yesterday the administration plans to ask Congress for another $100 billion...

Brit Pol Lashes 'Unreachable' Obama Team

'You have a bunch of people who haven't been in government before,' official gripes

(Newser) - A British government official has ripped Barack Obama's "unreachable" team as leaders scramble to make arrangements with the White House to organize next month's G20 summit in London, reports the Independent. "There is nobody there. You cannot believe how difficult it is," said the Cabinet secretary. "...

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