With major European economies on the brink of collapse, leaders
concluding an annual Group of 20 meeting sought Tuesday to reassure the
world that they would find a way to put out the debt-fueled economic
wildfire that has threatened banks, wiped out jobs and toppled
governments across the continent.
But the presidents and prime ministers gathered in this seaside resort
seemed content to delay any major decisions for a while longer,
releasing only a general statement that stopped short of committing any
nations to greater spending unless conditions worsen and urging fiscal
responsibility.
For months, governments and economists have weighed two different paths
to ease the financial crisis: spending more to try to stimulate growth
or slashing budgets. European leaders headed home without announcing
any significant agreements, and they aimed to meet again later this
month in Brussels, with a goal of adopting a more detailed plan. Read More...
Posted in: World News
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