G20 finance ministers, bankers meet for talks on financial crisis

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Source: CCTV.com | 03-14-2009 08:53

Finance ministers and central bankers from the G-20 countries have gathered in southern England for a meeting to discuss the global economic crisis. One of the key questions facing participants is whether their countries should spend or regulate their way out of the recession.

Chancellor of the Exchequer Alistair Darling (L) and US  Treasury Secretary Tim Geithner hold talks during a G20  bilateral meeting at the South Lodge Hotel in Horsham,  West Sussex. Darling and his French counterpart denied  Friday there was a transatlantic rift over how to tackle  the world economic crisis, as they and their colleagues  gathered to prepare for a crunch summit next month. (AFP/Leon Neal)

G20 finance ministers and central bank governors have arrived in Horsham, about 50 kilometers south of London.

Ahead of the meeting, different approaches supported by the US and European nations have gradually widened a simmering disagreement. The US hopes the London Summit will focus on how to increase spending to stimulate the global economy. But the EU's biggest priority is reforming the international financial system. European countries have little appetite for further debt to stimulate their economies.