World on bailout life support’, G-20 Leaders – failed to deliver results on global recovery

This week Katie Pilbeam takes the show on the road to St. Petersburg for the annual G20 Summit. There, she tracks down Christine Lagarde and grills the head of the IMF on the wisdom of the monetary easing policy adopted by the world’s central banks. Plus, emerging BRICS nations launch their development bank to rival the World Bank and the IMF. And we catch up with our in-house trader Sean Thomas for a peek at his portfolio
G-20 Leaders – failed to deliver results on global recovery.
The G-20 summit ended worse than expected on Friday – with acrimony, division & name-calling over Syria. The conference, which was originally conceived as an economic forum, also failed to deliver results on global recovery.
In the end, even a meeting between Barack Obama and Vladimir Putin failed to deliver results. Participants at the G-20 summit in St. Petersburg couldn’t manage to find a common position on Syria. The American president demanded that punitive action be taken against Syria, but his Russian counterpart stood between Obama and his allies. Now any decision on a possible military strike against Damascus will be up to the US Congress.
http://www.spiegel.de/international/world/no-progress-from-g20-on-economy-or-foreign-policy-a-920864.html