It will be harder to stabilize the global economy based on the principles which came out of the G-20 Toronto meeting than to put a camel through the eye of a needle. The G-2p’s goals and the programs already in place in the member nations are so complex that the chance they will together is nearly impossible.
One G-2o plan was for members to cut in half their national deficits by 2013 and stabilize their national debts by 2016. A look at the current US budget plan shows that reaching those goals may be impossible in America.The G-2o also wants further regulate banks, and, sometimes, to tax them as a way to create funds that would protect taxpayers from costs if large financial firms fail. Part of these programs is to curb the risk banks take as a way to insure that they are less likely to run into liquidity problems in the future.
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