By EDITH M. LEDERER
The Associated Press
Sunday, January 31, 2010; 10:43 AM
DAVOS, Switzerland -- The world's foremost gathering of business and government leaders wrapped up a five-day meeting Sunday with widespread agreement that a fragile recovery is under way but no consensus on what's going to spur job growth and prevent another global economic meltdown.
Banding together in the Group of 20 that has emerged to take the place of the Group of 7 as the body to control the direction of the world economy, politicians and economists are supposed to produce policy suggestions by June, ahead of the Group of 20’s meeting in Seoul, South Korea, in November, its first meeting in Asia.
Whether that group, far from the jobless workers in the United States and Europe, can ease their pain is unclear. But, Mr. Ackermann said, “We all know something has to happen quickly to restore confidence in the system.”
Ya think! Quickly is already water under the bridge....we are at "better late then never" now.
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hawkeye10
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Sun 31 Jan, 2010 12:47 pm
Quote:
DAVOS, Switzerland (AFP) " The global banking elite left Davos on Sunday battered and bruised by the latest round of the blame game over the world financial crisis.
Scolded by presidents, prime ministers, central bank chiefs and even billionaire investors over regulation and their salaries, the heads of the institutions which dominate the financial markets have had to admit that some kind of reform is necessary.
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