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ONEMINUTE WORLD NEWS
Page last updated at 21:37 GMT, Thursday, 2 April 2009 22:37 UK
News Front Page
Email this to a friend
Printable version
G20 leaders seal $1tn global deal
Africa Americas Asia Pacific
THE G20 SUMMIT
Europe
LATEST NEWS
Middle East South Asia
G20 leaders seal $1tn global deal
UK
Global markets rise on G20 deal
Business
Live text: G20 Summit
Market Data
Live Map: G20 around London
Economy
Day two in pictures
Companies
Twitter on the front line
Health
BACKGROUND AND ANALYSIS
Science & Environment
What the $1tn pledge really costs
Technology Entertainment
Please turn on JavaScript. Media requires JavaScript to play.
Q&A: The G20's $1tn deal
Also in the news
At a glance: G20 agreement
Video and Audio
Barack Obama: 'By any measure the London summit was historic'
Country Profiles Special Reports
Related BBC sites Sport Weather On This Day
Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1.1 trillion (£681bn). To help countries with troubled economies, the resources available to the International Monetary Fund (IMF) will be tripled to $750bn.
Site Version UK Version International Version
Historic IMF changes Will it help the world's poorest? Is Brown the G20 winner? SECURITY AND PROTESTS What did the protests achieve?
There will also be sanctions against secretive tax havens and tougher global financial regulation.
Further protests at G20 summit
And the G20 has committed about $250bn to boost global trade.
Climate Camp in the City
US President Barack Obama said the summit could mark a "turning point" in the pursuit of economic recovery and made progress in reforming a "failed regulatory system".
In pictures: G20 protest cleanup
Editors' Blog BBC World Service
G20 leaders' statement Mixed reactions to outcome
Have Your Say In Pictures
New world economic order?
Your pictures: G20 protests
The G20 social media battle VIDEO REPORTS
About the versions
"By any measure the London summit was historic. "It was historic because of the size and the scope of the challenges that we face and because of the timeliness and the magnitude of our response," he said. Prime Minister Gordon Brown said there was "no quick fix" for the world economy but there was a commitment to do whatever was necessary.
NEW FUNDING PLEDGES
Obama : 'The challenge is clear'
$500bn for the IMF to lend to struggling economies $250bn to boost world trade
Brown on 'new consensus'
$250bn for a new IMF "overdraft facility" countries can draw on $100bn that international development banks can lend to poorest countries
Global impact of the G20 deal
IMF will raise $6bn from selling gold reserves to increase lending for the poorest countries
G20 protest scuffles in City
Source: BBC G20 leaders' statement Global markets rise on G20 deal
Historic IMF changes "This is the day that the world came together to fight back Q&A: The G20's $1tn deal against the global recession, not First Lady moved by school visit with words, but with a plan for Mixed reactions to G20 outcome global recovery and for reform and with a clear timetable for its delivery," Mr Brown said.
Another G20 meeting will be held in New York in September to check on progress, the BBC has learned. The deal was announced shortly before the European stock markets closed and gave leading indexes a significant boost.
HAVE YOUR SAY Was the G20 summit a success? THE GLOBAL ECONOMIC CRISIS G20: Full indepth report UK recession in depth Global recession in depth
RELATED INTERNET LINKS G20 The BBC is not responsible for the content of external internet sites
London's FTSE 100 index of leading shares ended 4.3% higher. In Paris, the Cac 40 jumped 5.4% and in Frankfurt, the Dax rose 6%.
FROM OTHER NEWS SITES Guardian Unlimited G20 ushers in new world order 27 mins ago
The deal On behalf of the G20, Mr Brown announced the following steps: l
MSNBC Obama hails summit as 'turning point' 58 mins ago
Bankers' pay and bonuses will be subject to stricter controls
Chicago Tribune G20 backs tougher rules, $1 trillion stimulus 1 hr ago A new Financial Stability Board will be set up to work with the IMF to ensure co operation across borders and provide an early warning mechanism for the financial system
Washington Post * A Lifeline for Nations Both Rich and Poor 1 hr ago
l
Asian Age G20 accord on $1trillion plan, all tax havens face crackdown 1 hr ago About these results * Requires registration
l
There will be greater regulation of hedge funds and credit ratings agencies
l
A common approach to cleaning up banks' toxic assets has been agreed
Gordon Brown announces the G20 deal
l
The world's poorest countries will receive $100bn extra aid
l
G20 countries are already implementing the biggest economic stimulus "the world has ever seen" an injection of $5tn by the end of next year.
TOP BUSINESS STORIES G20 leaders seal $1tn global deal Global markets rise on G20 deal Intel works with GE on healthcare
MOST POPULAR STORIES NOW SHARED
READ
WATCHED/LISTENED
IMF boost
Sisters 'make people happy'
The IMF has been one of the biggest beneficiaries of the G20 summit.
G20 leaders' statement
The resources it has to help troubled economies will be increased to $500bn. An overdraft facility will also be increased to $250bn (in the IMF's currency, socalled Special Drawing Rights) that all members can call upon.
Brain scan 'could diagnose PTSD' First Lady moved by school visit Virus battery could 'power cars' Most popular now, in detail SHARED
Mr Brown said that there would be a crackdown on tax havens to prevent the loss of sorely needed tax revenue. Shortly after the summit finished the Organisation of Economic Co operation and Development published a blacklist of countries deemed uncooperative.
HOW BIG IS ONE TRILLION?
READ
WATCHED/LISTENED
Weekly world news quiz G20 leaders seal $1tn global deal Gunfire on ThaiCambodian border Clothing verboten at German hotel US to be 'pragmatic on climate' First Lady moved by school visit FBI called in over Wolverine leak
It said Costa Rica, Malaysia, Philippines and Uruguay had not made any commitment to respecting international standards.
Virus battery could 'power cars' Mexico arrests 'drug cartel boss' US prosecutors indict Blagojevich
"We have agreed tough standards Big numbers explained and sanctions for use against those who don't come into line in the future," Mr Brown said. President Obama was said to have played a key role in brokering the agreement on tax havens, resolving differences between France and China.
Most popular now, in detail SHARED
READ
WATCHED/LISTENED
Obama: I love this guy President Obama meets the Queen Michelle Obama 'mobbed' by pupils
Hopes met?
Obama : 'The challenge is clear'
French President Nicolas Sarkozy said that the conclusions of the G20 summit were "more than we could have hoped for".
One Minute World News First Lady Michelle's day in London
Earlier, there had been suggestions of rifts between France and Germany and the US and the UK. The US and UK emphasised the need for public spending to ease the crisis while France and Germany were keen for tougher financial regulation.
HAVE YOUR SAY
Leading ladies meet at the opera Queen greets G20 leaders
1.1 trillion...how can that ever be
Spiderman in dizzying G20 protest
accounted for? Success for them. Failure for everyone else
First ladies visit London hospital Most popular now, in detail
Nathan McConnell, Grantsburg, US Send us your comments
Mr Sarkozy had threatened to walk out of the meeting if it did not
yield concrete results. German Chancellor Angela Merkel also praised the outcome. She said the new measures would give the world a "clearer financial market architecture" and the agreement was "a very, very good, almost historic compromise". Her finance minister, Peer Steinbrueck, said he was pleased that the G20 statement did not oblige states to launch further economic stimulus packages. Protests Protesters gathered outside the summit, but in smaller numbers than during Wednesday's demonstrations in London's financial district. Several hundred staged "noisy but calm" protests near the Excel centre, representing groups including the Stop the War Coalition and CND. And about 400 more demonstrators were boxed in by police outside the Bank of England in London's financial district, during angry but peaceful protests. More than 100 people were arrested over the two days of protests 86 of them on Wednesday, police said. A small group of protesters gathered earlier at the London Stock Exchange, but later dispersed. Poor benefit The G20 countries have pledged $100bn in aid for developing countries, more than expected. The money will be dispensed through multilateral lenders such as the Asian Development Bank. The measure that could make the most difference in the short term for the poorest countries is the availability of $250bn of trade credit, says BBC international development correspondent David Loyn. It will enable goods currently rotting on the quayside in Africa to move again, he says. BBC business editor Robert Peston said the tougher financial regulation announced by the G20 was a significant step. He said it sounded the death knell for the freewheeling Anglo American way of banking and conducting financial markets. However, he said the measures would not get the world out of recession overnight.
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FEATURES, VIEWS, ANALYSIS
New man
Healing sounds
It's quiz time!
Can Najib Razak save Malaysia's ruling party?
Jazz musician Masekela's mellow mission at 70
How did Michelle Obama break palace protocol?
MOST POPULAR NOW
MOST POPULAR NOW
| 6,843 pages were read in the last minute. SKIP TO TOP
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© MMIX The BBC is not responsible for the content of external internet sites.
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Search
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ONEMINUTE WORLD NEWS
Page last updated at 21:37 GMT, Thursday, 2 April 2009 22:37 UK
News Front Page
Email this to a friend
Printable version
G20 leaders seal $1tn global deal
Africa Americas Asia Pacific
THE G20 SUMMIT
Europe
LATEST NEWS
Middle East South Asia
G20 leaders seal $1tn global deal
UK
Global markets rise on G20 deal
Business
Live text: G20 Summit
Market Data
Live Map: G20 around London
Economy
Day two in pictures
Companies
Twitter on the front line
Health
BACKGROUND AND ANALYSIS
Science & Environment
What the $1tn pledge really costs
Technology Entertainment
Please turn on JavaScript. Media requires JavaScript to play.
Q&A: The G20's $1tn deal
Also in the news
At a glance: G20 agreement
Video and Audio
Barack Obama: 'By any measure the London summit was historic'
Country Profiles Special Reports
Related BBC sites Sport Weather On This Day
Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1.1 trillion (£681bn). To help countries with troubled economies, the resources available to the International Monetary Fund (IMF) will be tripled to $750bn.
Site Version UK Version International Version
Historic IMF changes Will it help the world's poorest? Is Brown the G20 winner? SECURITY AND PROTESTS What did the protests achieve?
There will also be sanctions against secretive tax havens and tougher global financial regulation.
Further protests at G20 summit
And the G20 has committed about $250bn to boost global trade.
Climate Camp in the City
US President Barack Obama said the summit could mark a "turning point" in the pursuit of economic recovery and made progress in reforming a "failed regulatory system".
In pictures: G20 protest cleanup
Editors' Blog BBC World Service
G20 leaders' statement Mixed reactions to outcome
Have Your Say In Pictures
New world economic order?
Your pictures: G20 protests
The G20 social media battle VIDEO REPORTS
About the versions
"By any measure the London summit was historic. "It was historic because of the size and the scope of the challenges that we face and because of the timeliness and the magnitude of our response," he said. Prime Minister Gordon Brown said there was "no quick fix" for the world economy but there was a commitment to do whatever was necessary.
NEW FUNDING PLEDGES
Obama : 'The challenge is clear'
$500bn for the IMF to lend to struggling economies $250bn to boost world trade
Brown on 'new consensus'
$250bn for a new IMF "overdraft facility" countries can draw on $100bn that international development banks can lend to poorest countries
Global impact of the G20 deal
IMF will raise $6bn from selling gold reserves to increase lending for the poorest countries
G20 protest scuffles in City
Source: BBC G20 leaders' statement Global markets rise on G20 deal
Historic IMF changes "This is the day that the world came together to fight back Q&A: The G20's $1tn deal against the global recession, not First Lady moved by school visit with words, but with a plan for Mixed reactions to G20 outcome global recovery and for reform and with a clear timetable for its delivery," Mr Brown said.
Another G20 meeting will be held in New York in September to check on progress, the BBC has learned. The deal was announced shortly before the European stock markets closed and gave leading indexes a significant boost.
HAVE YOUR SAY Was the G20 summit a success? THE GLOBAL ECONOMIC CRISIS G20: Full indepth report UK recession in depth Global recession in depth
RELATED INTERNET LINKS G20 The BBC is not responsible for the content of external internet sites
London's FTSE 100 index of leading shares ended 4.3% higher. In Paris, the Cac 40 jumped 5.4% and in Frankfurt, the Dax rose 6%.
FROM OTHER NEWS SITES Guardian Unlimited G20 ushers in new world order 27 mins ago
The deal On behalf of the G20, Mr Brown announced the following steps: l
MSNBC Obama hails summit as 'turning point' 58 mins ago
Bankers' pay and bonuses will be subject to stricter controls
Chicago Tribune G20 backs tougher rules, $1 trillion stimulus 1 hr ago A new Financial Stability Board will be set up to work with the IMF to ensure co operation across borders and provide an early warning mechanism for the financial system
Washington Post * A Lifeline for Nations Both Rich and Poor 1 hr ago
l
Asian Age G20 accord on $1trillion plan, all tax havens face crackdown 1 hr ago About these results * Requires registration
l
There will be greater regulation of hedge funds and credit ratings agencies
l
A common approach to cleaning up banks' toxic assets has been agreed
Gordon Brown announces the G20 deal
l
The world's poorest countries will receive $100bn extra aid
l
G20 countries are already implementing the biggest economic stimulus "the world has ever seen" an injection of $5tn by the end of next year.
TOP BUSINESS STORIES G20 leaders seal $1tn global deal Global markets rise on G20 deal Intel works with GE on healthcare
MOST POPULAR STORIES NOW SHARED
READ
WATCHED/LISTENED
IMF boost
Sisters 'make people happy'
The IMF has been one of the biggest beneficiaries of the G20 summit.
G20 leaders' statement
The resources it has to help troubled economies will be increased to $500bn. An overdraft facility will also be increased to $250bn (in the IMF's currency, socalled Special Drawing Rights) that all members can call upon.
Brain scan 'could diagnose PTSD' First Lady moved by school visit Virus battery could 'power cars' Most popular now, in detail SHARED
Mr Brown said that there would be a crackdown on tax havens to prevent the loss of sorely needed tax revenue. Shortly after the summit finished the Organisation of Economic Co operation and Development published a blacklist of countries deemed uncooperative.
HOW BIG IS ONE TRILLION?
READ
WATCHED/LISTENED
Weekly world news quiz G20 leaders seal $1tn global deal Gunfire on ThaiCambodian border Clothing verboten at German hotel US to be 'pragmatic on climate' First Lady moved by school visit FBI called in over Wolverine leak
It said Costa Rica, Malaysia, Philippines and Uruguay had not made any commitment to respecting international standards.
Virus battery could 'power cars' Mexico arrests 'drug cartel boss' US prosecutors indict Blagojevich
"We have agreed tough standards Big numbers explained and sanctions for use against those who don't come into line in the future," Mr Brown said. President Obama was said to have played a key role in brokering the agreement on tax havens, resolving differences between France and China.
Most popular now, in detail SHARED
READ
WATCHED/LISTENED
Obama: I love this guy President Obama meets the Queen Michelle Obama 'mobbed' by pupils
Hopes met?
Obama : 'The challenge is clear'
French President Nicolas Sarkozy said that the conclusions of the G20 summit were "more than we could have hoped for".
One Minute World News First Lady Michelle's day in London
Earlier, there had been suggestions of rifts between France and Germany and the US and the UK. The US and UK emphasised the need for public spending to ease the crisis while France and Germany were keen for tougher financial regulation.
HAVE YOUR SAY
Leading ladies meet at the opera Queen greets G20 leaders
1.1 trillion...how can that ever be
Spiderman in dizzying G20 protest
accounted for? Success for them. Failure for everyone else
First ladies visit London hospital Most popular now, in detail
Nathan McConnell, Grantsburg, US Send us your comments
Mr Sarkozy had threatened to walk out of the meeting if it did not
yield concrete results. German Chancellor Angela Merkel also praised the outcome. She said the new measures would give the world a "clearer financial market architecture" and the agreement was "a very, very good, almost historic compromise". Her finance minister, Peer Steinbrueck, said he was pleased that the G20 statement did not oblige states to launch further economic stimulus packages. Protests Protesters gathered outside the summit, but in smaller numbers than during Wednesday's demonstrations in London's financial district. Several hundred staged "noisy but calm" protests near the Excel centre, representing groups including the Stop the War Coalition and CND. And about 400 more demonstrators were boxed in by police outside the Bank of England in London's financial district, during angry but peaceful protests. More than 100 people were arrested over the two days of protests 86 of them on Wednesday, police said. A small group of protesters gathered earlier at the London Stock Exchange, but later dispersed. Poor benefit The G20 countries have pledged $100bn in aid for developing countries, more than expected. The money will be dispensed through multilateral lenders such as the Asian Development Bank. The measure that could make the most difference in the short term for the poorest countries is the availability of $250bn of trade credit, says BBC international development correspondent David Loyn. It will enable goods currently rotting on the quayside in Africa to move again, he says. BBC business editor Robert Peston said the tougher financial regulation announced by the G20 was a significant step. He said it sounded the death knell for the freewheeling Anglo American way of banking and conducting financial markets. However, he said the measures would not get the world out of recession overnight.
Bookmark with: Delicious
What are these? Digg
Email this to a friend
StumbleUpon
Printable version
FEATURES, VIEWS, ANALYSIS
New man
Healing sounds
It's quiz time!
Can Najib Razak save Malaysia's ruling party?
Jazz musician Masekela's mellow mission at 70
How did Michelle Obama break palace protocol?
MOST POPULAR NOW
MOST POPULAR NOW
| 6,843 pages were read in the last minute. SKIP TO TOP
PRODUCTS & SERVICES
Email news
Mobiles
Alerts
News feeds
Podcasts
Explore the BBC Home
Heroes
EastEnders
Formula One
BBC iPlayer
Health
Music
Sport
CBBC
History
News
TV
CBeebies
Learning
Radio
Weather
Food
Local & Nations
Science & Nature
A whole lot more
© MMIX The BBC is not responsible for the content of external internet sites.
News Sources About BBC News
BBC Help Accessibility Help Jobs Advertise With Us
About the BBC Contact Us Terms of Use Privacy & Cookies
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