Monday, September 28, 2009

Obama hails 'tough regulations'


he world's leading nations have agreed "tough new regulations" to prevent another global financial crisis, US President Barack Obama has said.

These relate to the amount of money banks have to hold in reserve and to excessive pay for bankers.

Speaking at the end of a two-day G20 summit, Mr Obama also outlined plans to give emerging economies a greater say in the global economy.

The G20 will effectively replace the G8 group of developed economies.

See full Article.