World leaders came together at the G-20 economic summit in London on Thursday. President Barack Obama described what he called “unprecedented steps to restore growth and prevent a crisis like this from happening again” — but he also admitted it was hard for the heads of state to bridge their differences.
G-20 members agreed to several elements of regulatory reform, including limiting hedge funds, bankers’ pay and credit agencies, as well as monitoring tax havens.
The markets have reacted positively to the results of the G-20 meeting.
Martin Wolf, the associate editor and chief economics commentator for the Financial Times of London, joins Martin Savidge to discuss how the results of the meeting will impact the global economic crisis, whether the G-20 nations will be able to turn their words into action and how other nations have responded to Obama’s leadership.
Below, see a slideshow of G-20 protests in London. More than 4,000 people attended the “Financial Fools Day” protest on Wednesday and protests continued into Thursday.
Photos courtesy of Flickr users under a Creative Commons license.