G20 financial leaders meeting draws joint communique on financial reform

12:59, June 06, 2010      

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British chancellor of the exchequer George Osborne (R, front) and Britain's Central Bank Governor Mervyn King attend the G20 Finance Ministers and Central Bank Governors Meeting in Busan, South Korea, June 5, 2010. The meeting of the G20 finance ministers and central bank governors continued here on Saturday. (Xinhua/Pool)The meeting of the G20 finance ministers and central bank governors on Saturday ended in South Korea's southeastern port city of Busan, leading to a joint communique calling for member countries' continued efforts on financial reform.

In the face of the lingering eurozone fiscal debt risks, financial leaders of the 20 member countries had in-depth discussions on cooperative measures to boost up fiscal soundness and spent time on developing a basket of policy options to be brought up to the discussion table at the Toronto Summit.

The two-day meeting drew up a joint communique signed by participant leaders, although there have been some thorny issues, such as a global bank levy, accompanied by disputes among participant leaders.

South Korean Financial Minister Yoon Jeung-hyun, wrapping up the meeting, highly exalted the event, saying it succeeded in reaching an agreement despite discords among the participant countries on some issues.

"With respect to the content of the communique, we have reached an almost-perfect result without major disputes, which I think is the most outstanding outcome of the meeting," Yoon told the closing press conference.

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