September 07, 2009

By BBC (View author info)

Deepening divisions have appeared among international finance ministers, meeting in London, about how to curb excessive bank bonuses....French Finance Minister Christine Lagarde has promised to launch an "onslaught" against large payouts. ...The UK has dismissed the idea, while other countries remain concerned about how best to recover from the recession....Mr Geithner wants banks to hold more capital to protect themselves against losses.....Holding a mini-summit away from the G20 meeting, ministers from emerging economies Brazil, Russia, India and China (Bric) called for caution, warning it was "too early" to talk of an end to the crisis. The huge cash injections pumped into businesses by governments around the world could not be withdrawn in a hurry without causing new problems, they said.

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