Gordon Brown today claimed that the end of the global recession was now achievable as he unveiled an agreement from the G20 summit that will pump an additional $1tn (£748bn) into the world economy.Announcing the conclusions of the London summit, the prime minister also unveiled a surprise move on tax havens, saying that a list of countries that do not comply with anti-secrecy rules would be published today."This is the day that the world came together to fight back against the global recession, not with words but with a plan for global recovery and reform and with a clear timetable," Brown told a news conference at the ExCel centre in London's Docklands, after several days of frantic diplomacy and political posturing. "Today's decisions, of course, will not immediately solve the crisis. But we have begun the process by which it will be solved," Brown added.
Gordon Brown today claimed that the end of the global recession was now achievable as he unveiled an agreement from the G20 summit that will pump an additional $1tn (£748bn) into the world economy.
Announcing the conclusions of the London summit, the prime minister also unveiled a surprise move on tax havens, saying that a list of countries that do not comply with anti-secrecy rules would be published today.
"This is the day that the world came together to fight back against the global recession, not with words but with a plan for global recovery and reform and with a clear timetable," Brown told a news conference at the ExCel centre in London's Docklands, after several days of frantic diplomacy and political posturing.
"Today's decisions, of course, will not immediately solve the crisis. But we have begun the process by which it will be solved," Brown added.
LONDON (Reuters) - World leaders clinched a $1.1 trillion (748 billion pound) deal on Thursday to combat the worst economic crisis since the Great Depression, and tightened the rules to stop it happening again. U.S. President Barack Obama played down differences at the summit and declared it a "turning point" for the world economy. French President Nicolas Sarkozy celebrated the waning of the Anglo-Saxon model linked by many to the excess that triggered the crisis. Stocks rallied but economists cautioned against euphoria.
LONDON (Reuters) - World leaders clinched a $1.1 trillion (748 billion pound) deal on Thursday to combat the worst economic crisis since the Great Depression, and tightened the rules to stop it happening again.
U.S. President Barack Obama played down differences at the summit and declared it a "turning point" for the world economy. French President Nicolas Sarkozy celebrated the waning of the Anglo-Saxon model linked by many to the excess that triggered the crisis.
Stocks rallied but economists cautioned against euphoria.
Nicolas Sarkozy celebrated the waning of the Anglo-Saxon model linked by many to the excess that triggered the crisis.
He then returned to his efforts to impose that model on France.
The G20 summit in London has ended with a sweeping combination of economic stimulus measures and financial reforms to fix the global economy. Leaders are praising the outcome as an historic response to major challenges. World leaders have agreed Thursday to a grand compromise of new regulations and extra spending to end the worst economic downturn since the Great Depression. "We will do what is necessary to restore growth," said G20 host and British Prime Minister Gordon Brown, ending what had been a tough round of negotiations on how to address the global economic crisis.
World leaders have agreed Thursday to a grand compromise of new regulations and extra spending to end the worst economic downturn since the Great Depression.
"We will do what is necessary to restore growth," said G20 host and British Prime Minister Gordon Brown, ending what had been a tough round of negotiations on how to address the global economic crisis.
Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1.1 trillion (£681bn). To help countries with troubled economies, the resources available to the International Monetary Fund (IMF) will be tripled to $750bn. There will also be sanctions against secretive tax havens and tougher global financial regulation. And the G20 has committed about $250bn to boost global trade.
Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1.1 trillion (£681bn).
To help countries with troubled economies, the resources available to the International Monetary Fund (IMF) will be tripled to $750bn.
There will also be sanctions against secretive tax havens and tougher global financial regulation.
And the G20 has committed about $250bn to boost global trade.
