Wednesday, June 20, 2012

World Leaders Weigh Stimulus Vs. Austerity at G-20

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...


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