G20 financial leaders meeting draws joint communique on financial reform (5)

16:19, June 06, 2010      

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"(Bank levy) will thus improve the healthiness of the foreign exchange market and also contribute to the general improvement of the current financial system," Yoon said in an e-mail interview with local media Korea Times.

Despite the failure of drawing detailed measures on bank levy, the G20 leaders came up with a larger-frame resolution, or a five- step principle, that will be a guideline for countries to consider when they devise ways to regulate the banking sector.

With the remaining challenge to harmonize the ongoing disputes on the bank levy issue, the Busan G20 meeting will be followed by the June 2010 Toronto Summit and the November 2010 Seoul Summit where more practical outcomes are expected.


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G20 financial meeting unlikely to reach deal in bank levy

BUSAN, South Korea, June 5 (Xinhua) -- The G20 financial leader meeting underway in South Korea's southeastern port city of Busan will unlikely to bring about a tangible result with regard to bank levy, officials here said Saturday.Full story

G20 financial leaders meet in S. Korea to discuss financial reform

BUSAN, June 4 (Xinhua) -- The meeting of the G20 finance ministers and central bank governors kicked off Friday in South Korea's southeastern port city of Busan, slated to call for global cooperation to improve financial and fiscal soundness.Full story

G20 joint communique calls for continued efforts for financial reform

BUSAN, South Korea, June 5 (Xinhua) -- South Korean Financial Minister Yoon Jeung-hyun on Saturday announced a joint communique signed by financial leaders of the G20 countries as the conclusion of the Busan G20 financial meeting, calling for continued efforts for financial repair and reform. Full story

Italy to play central role at G20 summit, says top official

ROME, June 2 (Xinhua) -- Italy is set to play a central role at the upcoming Group of 20 (G20) summit through the promotion of global, tighter financial rules as it has done since the outbreak of the crisis, an Italian top official told Xinhua in an exclusive interview Tuesday.Full story

G8, G20 summits to dominate Medvedev-Merkel talks

MOSCOW, June 4 (Xinhua) -- Russian President Dmitry Medvedev and German Chancellor Angela Merkel are expected to discuss the agenda of the upcoming G8 and G20 summits during Medvedev's upcoming visit to Germany, said a Kremlin official on Friday.Full story
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