G20 leaders to call for banker pay curbs

World leaders at the G20 meeting here Thursday were closing in on a statement calling for new restraints on banker pay, but would not endorse specific monetary caps, a deal-breaker for the United States

PITTSBURGH (Reuters) - World leaders at the G20 meeting on Thursday closed in on a statement calling for new restraints on banker pay, an issue that became inflammatory during the global financial crisis, but would not endorse specific monetary caps -- a deal-breaker for the United States.

MOSCOW – Financial leaders from the world’s 20 biggest economies may have promised not to devalue their currencies to help exports, but the pledge will do little to keep exchange rates stable. While G20 finance ministers and central bank governors can promise not to devalue their currencies directly, there can be no guarantees while central banks are pumping money into economies to make them grow again.

Finance leaders of the G20 economies said on Friday they agreed they did not need to set hard targets for reducing national debt levels, and said they would be watching for negative effects from massive monetary stimulus efforts, such as Japan. Russian Finance Minister Anton Siluanov said at a news conference that finance officials from the Group of 20 nations believed overall debt reduction was more important than specific figures.

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy.

OTTAWA — Given troubling signs of a decelerating global economy, it is not surprising financial leaders from the world’s most advanced nations will look at ways to recharge growth when they meet this week in the U.K. But it is unclear how much effort — and what results, if any — can be expected from the Group of Seven finance ministers and central bankers during what is being described at an informal gathering in the county Buckinghamshire, northwest of London.