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EU presidency: G-20 summit was 'a step forward'

EU presidency G-20 summ

SEPTEMBER 26, 2009 14:12

The EU presidency called the Pittsburgh Group of 20 summit "a step forward," because world leaders agreed to restrict bankers' bonuses and introduce tougher financial market regulation. Swedish Premier Fredrik Reinfeldt and Finance Minister Anders Borg said the agreements struck at the summit of rich and developing nations "took the first steps toward a more sustainable financial system." The key deals struck by the G-20 in Pittsburgh included tougher rules on bonus payments, improved regulation of the financial market as well as stricter supervision. The ministers, writing in Stockholm daily Dagens Nyheter on Saturday, said the world will now have a better chance of defeating the unemployment that followed the global financial crisis.

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