Finance ministers arrive for G20 talks
on 07/11/2009 08:54:26
Leading finance ministers and bank governors will today get down to business at the G20 summit as they try to nurse the global economy back to health.
The UK's chancellor Alistair Darling, who is hosting the talks in Scotland, will stress the need for a deal to tackle climate change.
He will call on leaders to follow through with measures to repair the financial system.
British Prime Minister Gordon Brown will join the chancellor for the summit in St Andrews, where protesters are planning demonstrations.
US Treasury Secretary Timothy Geithner was among delegates from the 20 biggest and fastest developing national economies, including the European Union, to arrive at the historic university town yesterday.
Mr Darling set out his ambitions for the weekend summit during a formal dinner earlier in Edinburgh.
He said a deal on climate change is "essential" as leaders look forward to a UN summit on the issue in Copenhagen.
And he stressed the need for "global co-operation on a scale never seen before".
He added: "There can be no room for complacency amongst G20 countries this weekend.
"We must see through measures to support demand and repair the financial system because we cannot yet be sure the global recovery has sufficient momentum to be sustained and durable."
"Once we're through this, we must co-ordinate our plans for the recovery, just as we have co-ordinated our response to this crisis."
The G20 talks are the last in a series which saw leaders agree a one trillion dollar "fiscal stimulus" plan in the wake of global recession.
A simultaneous event, the "people's G20", will be held on the beach where protesters will call on ministers to take action on jobs, climate change and finance - and "stop burying their heads in the sand".
The rally is being organised by a coalition of unions, faith and environmental groups from about 11am.
A group of anti-war campaigners and student groups intends to rally in the town centre on Saturday to "say nae tae the G20".
A band of about a dozen students gathered in the historic town centre on Friday to voice their concerns over the way world leaders were handling the economy and tackling climate change.