18 Apr '11, 4am

G-20 identifies 7 economies that are 'too big to ignore' #News

WASHINGTON - The United States, China, Japan, Germany, France, Britain and India will face deeper scrutiny from their peers to ensure their policies do not derail a global expansion that finance chiefs bet is strong enough to absorb recent shocks. The seven countries have a gross domestic product greater than 5 per cent of the Group of 20 nations' economy, and so carry "the greater potential for spillover effects", G-20 central bankers and finance ministers said during weekend talks in Washington. "The net is a little bit tighter for those countries that are considered of systemic importance," said French Finance Minister Christine Lagarde. The next step is for officials to work with the IMF to study the countries' policies before telling leaders which ones are aggravating imbalances, and what measures can be taken to correct them, at a November summit in Cannes, France. D...

Full article: http://www.todayonline.com/Business/EDC110418-0000579/G-2...

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