Wednesday 25 May 2022

The Netherlands pleased with G20 results

This weekend’s G20 economic summit between world leaders in Washington to discuss the credit crisis achieved more than expected, junior finance minister Jan Kees de Jager told NOS tv on Sunday.

De Jager headed the Dutch delegation to the US because prime minister Jan Peter Balkenende returned home after his father died.
‘The foundations have been laid for tougher policy’ and a number of concrete decisions have been taken, De Jager said.
Financial institutions will be strengthened and there will be more supervision with a bigger role for the International Monetary Fund. But there will be no global financial sector watchdog, the G20 leaders agreed.
Last week, Balkenende and Dutch finance minister Wouter Bos published a letter calling for the IMF to be given greater supervisory powers.
De Jager said he was particularly pleased that countries have agreed to take action on the bonuses paid to bankers which encourage them to take short-term risks.
For the BBC report on the summit, click here

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