Continue reading

14-03-09 Darling Opens Meeting Of G20 Ministers

Chancellor Alistair Darling has said he is sure of progress in tackling the world economic crisis as he opened a meeting of G20 ministers.He spoke to reporters outside the luxury country house hotel in West Sussex where finance ministers from the world's biggest economies are meeting for the weekend. "I'm quite sure that today we will make progress as part of the lead up to the meeting of leaders and finance ministers in London at the beginning of April," Darling said.Earlier he said he would be urging the world's leading economies to make an "explicit commitment" that they stood ready to use further fiscal stimulus measures if they proved necessary.The Chancellor warned that failure to take co-ordinated action risked worsening the recession.His comments appeared at odds with the emphasis of Germany and France,however,who have suggested that the focus now should be on regulatory reform rather than "spending even more".Today's G20 gathering in Horsham is intended to lay the foundations for a concerted approach before the same countries' heads of government meet in London next month.Prime Minister Gordon Brown,who will chair the London Summit,has his sights set on a "global new deal" to get the world economy back to growth