Finance ministers from the Group of 20 (G20) leading economies agreed today to continue stimulus spending programmes until an upturn in the global economy takes hold, dpa reported But in their joint declaration following the conference, the ministers stepped back from French and German proposals to cap bankers' bonuses, instead agreeing to a proposal to defer bonus payments until an executive's performance could be assessed. Echoing the declaration, British Chancellor of the Exchequer Alistair Darling, who hosted the two days of talks in London, said signs of recovery are emerging, but noted that the G20 finance ministers remained "cautious on the outlook for jobs and growth." As a result, Darling said the ministers agreed "to implement our necessary support measures" through both monetary and fiscal policies. Held in the staid surroundings of the British Treasury building in central London, the meeting had been called to take stock of moves to overhaul the global financial system, which had been called for by G20 government leaders. But the final details on what was agreed in London Saturday are likely to hammered out at a G20 summit of government chiefs in about two weeks in the US city of Pittsburgh. -- SPA
