UK: G20 leaders strike historic agreement to save world economy
03 Apr 2009 5:03 AM
Leaders from the world's 20 biggest economies have struck an historic agreement to pump one trillion dollars ($A1.43 trillion) into the global financial system .. as part of a major rescue package.
Leaders from the G20 countries .. including Australian Prime Minister KEVIN RUDD .. signed the six-point deal after holding crunch talks in London.
The rescue package includes an extra 1.43 trillion to restore credit, economic growth and jobs .. as well as a trebling of money for the International Monetary Fund.
Leaders also agreed to a crack down on tax havens .. boost world trade .. clean up the banking system .. and introduce new rules on pay and bonuses for corporate bosses.
Mr RUDD has welcomed the package .. saying the cooperation of the G20 leaders was essential to save jobs and put an end to unruly behaviour in the financial sector.
He's told reporters the agreement begins to crack down on cowboys in global financial markets that have brought them undone .. with real impacts for jobs everywhere.
British Prime Minister GORDON BROWN .. who hosted the summit .. says the G20 leaders had forged an unprecedented agreement in response to the international hurricane that had rocked the global economy.
The leaders have agreed to meet again in New York in September to review progress on their six-point plan.
AAP RTV bt/goc/psm/
