G20 2009 Summit Wraps Up
The G20 2009 Summit has wrapped up from the Excel Centre in London.
The host, British PM Gordon Brown finished with strong statements in a question and answer session – in no particular order:
1) IMF to have immediate $250 B aid.
2) $1 Trillion for the World Bank liquidity – this is new money.
3) Up to $5 Trillion being “promised” on an “as needed” basis of economic stimuli by most nations to protect world liquidity.
4) Trade to be encouraged.
5) Protectionism to be discouraged using “shame” and bad publicity.
6) Bank Secrecy must end.
7) Tax Havens – claim of the end is near – but time frame and how is unknown.
8) Blame - Banks for the world’s financial crash; Tax Havens for losing taxes.
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