G20: Europe Continues to Pose Problems

The Group of 20 leading nations say they are tantalizingly close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but Europe’s extended stagnation remains a major stumbling block.

The finance ministers and central bank chiefs gathered in the Australian city of Cairns claimed progress on fireproofing the world’s financial system and on closing tax loopholes exploited by giant multinationals.

They also dealt with the thorny problem of whether to invite Russian President Vladimir Putin to the G-20 leaders’ summit in November given events in Ukraine, with the consensus being to maintain diplomatic pressure but leave the door open for his attendance.

CNBC

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