German FinMin Seeks Coordinated Exit Strategies At G-20

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German Finance Minister Peer Steinbrueck called for an internationally coordinated exit strategies from fiscal stimulus measures at the G-20 meeting to be held in London on September 4 to 5.

In a letter to the G-20 finance ministers and central bank heads, the minister said banking supervision authorities should be entitled more power to demand banks raise their capital requirements.

In the letter dated August 27, Steinbrueck said policy measures implemented so far have been successful in stabilizing the global economy and financial markets.

He also wants G-20 countries to discuss about a fair distribution of burdens emerged in the wake of financial crisis.

German Finance Minister Peer Steinbrueck called for an internationally coordinated exit strategies from fiscal stimulus measures at the G-20 meeting to be held in London on September 4 to 5. (Market News Provided by RTTNews)