G20 ministers agree to "tougher regulation of the financial system."

[ProSense]

G20 to take 'whatever action necessary' on slowdown

by Katherine Haddon Katherine Haddon

HORSHAM, England (AFP) – G20 finance ministers vowed Saturday to take "whatever action is necessary" on the world economic slowdown, after talks preparing for a key summit on fighting the crisis next month.

They played down signs of division between the United States and Europe on how best to boost the global economy, insisting the road to the key summit of world leaders in London on April 2 was smooth.

"We're prepared to take whatever action is necessary to ensure growth is restored and we're committed to do that for however long it takes," said British finance minister Alistair Darling, who hosted the talks.

"I believe that this does provide a very clear sense of direction."

The politicians managed to reach agreement on the need for an "urgent" and substantial funding boost for the International Monetary Fund (IMF), although a communique issued afterwards did not put a figure on how much.

They also agreed to tougher regulation of the financial system.

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G20 ministers push for more regulation

[Critters2]

1. No need to close that barn door now.

The horse seems to be out in the pasture.

[FrenchieCat]

2. Better late than never.

From what I can see, the future is one of the places that we can go to make things better than what they were.....