G20 Summit: "Tough Regulations" Or Just "Business As Usual"?

Sept. 28, 2009 - At the end of the 2 days G20 summit that was held in Pittsburgh, US president Barack Obama declared that "the world's leading nations have agreed tough new regulations to prevent another global financial crisis".

According to the Financial Stability Board, which coordinates the Group of 20 regulation initiatives, "there has been good progress in strengthening the financial system to apply lessons from the credit crunch". (read FSB report on G20 financial rules progress).

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Created by Keiros 1 year 7 weeks ago – Made popular 1 year 4 weeks ago
Category: Economy   Tags:

Global Warming In The Agenda Of The Pittsburgh G20 Summit

Sept. 24, 2009 - Last summit in London was centered around the financial crisis and the best strategies to get the global economy out of recession. Although it is expected that the reform of international financial institutions will still be an important part of the discussion in today Pittsburgh summit, some sentences in president Barack Obama address to the UN indicate that global warming will be part of the agenda.

According to sources in the White House, the US president will propose to his G20 partners a plan to eliminate subsidies on fossil fuels, in order to encourage the use of renewable energy and to fight against global warming.

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Created by Kevin 1 year 8 weeks ago – Made popular 1 year 8 weeks ago
Category: Science & Nature   Tags:

Tax Havens: The Worst Are Not Those You May Think.

During the last G20 summit held in London in April 2009, participant countries agreed, among other measures, to strengthen international cooperation in order to get rid of tax havens (aka "fiscal paradises").

According to the U.S. Government Accountability Office, a tax haven could be defined by the following statements:

  • no taxes or only nominal taxes
  • lack of effective exchange of tax information with foreign tax authorities
  • lack of transparency in the operation of legislative, legal or administrative provisions
  • no requirement for a substantive local presence
  • self-promotion as an offshore financial center
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Created by Keiros 1 year 31 weeks ago – Made popular 1 year 31 weeks ago
Category: Economy   Tags: