The following is an excerpt from an article found here at Reuters today:
By David Lawder and Emmanuel Jarry
“WASHINGTON (Reuters) – World leaders pledged rapid action on Saturday to rescue a weakening global economy from the worst financial crisis in over 70 years and agreed to give emerging nations more say in running financial affairs.
The Group of 20 leaders from major industrialized and developing countries set out plans to toughen oversight for major global banks, study limits on banker pay and try for a breakthrough by year end in global trade talks — all part of a roadmap to rebuild a financial system crippled by the credit crisis.
“We must lay the foundation for reform to help ensure that a global crisis such as this one does not happen again,” they said in a statement after their first-ever summit.
They vowed to make progress before a second summit by the end of April.”
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