G20 ministers meet amid divisions

Source: CCTV.com | 03-14-2009 20:50

Finance officials and central bankers from the Group of Twenty have begun two days of meetings in the town of Horsham in the UK. The talks are aimed at finding common ground amid deep divisions on how to tackle the global downturn.

The delegates will discuss whether spending or regulating is the best way to climb out of recession.

The US is calling for increased public spending. But some European governments stress the need to change the rules governing financial markets.

They hope to agree on an agenda for next month's G20 leaders' summit in London.

At the beginning of Saturday's session, Britain's Chancellor of the Exchequer emphasized the importance of this meeting.

Alistair Darling, UK Chancellor of the Exchequer, said, "I'm quite sure that today we will make progress, as part of the lead up to the meeting of leaders and finance ministers in London in the beginning of April, when we need to be concentrating on the three big issues, supporting our economy getting bank lending going again and of course ensuring that not just some of the world but all the world is known by what we do."