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Stage is set, but don't expect much from G-20

Business Times - 23 Sep 2009


Stage is set, but don't expect much from G-20

By LEON HADAR
WASHINGTON CORRESPONDENT

AFTER attending the United Nations (UN) General Assembly meeting in New York, the leaders of the world's 19 largest economies and the European Union (EU) will be travelling to Pittsburgh, Pennsylvania, to take part in the third economic summit since the start of the current global recession.

In the last two G-20 summits, the assembled leaders had embraced fiscal and monetary stimulus policies that were supposed to help their economies get out of the greatest economic recession since the Great Depression of the 1930s.

The main goal of US President Barack Obama, the host of the G-20 summit, and the rest of the leaders who will be convening in Pittsburgh this week will be to examine policies that could allow them to start bringing an end to those costly monetary and fiscal policies - the so-called 'exit strategy' - without hurting the prospects for an economic …