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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: SeachRE who wrote (156959)	3/14/2009 3:43:22 PM
From: Hope Praytochange	1 Recommendation Respond to of 173976

But the ministers of the so-called Group of 20 nations, representing about 85 percent of the world economy, stopped short of announcing any details, a signal that beneath the pledges of cooperation, a trans-Atlantic rift remained over whether government intervention should emphasize more regulation or stimulus spending. The meeting was a precursor to the coming G-20 summit to be held on April 2 in London, where the leaders of the major industrial powers and big developing countries will gather in an attempt to reach agreement on how to stem the global economic tailspin. Germany and France were the only two countries to give a joint news conference following the meeting, in which they reiterated their position that the focus of the G-20 meeting in London next month should be on reforming regulation rather than additional stimulus measures to deal with the global economic emergency. The United States Treasury secretary, Timothy F. Geithner, took pains on Saturday to present a united front, saying that the world was committed to increasing consumer demand — despite stated European reluctance on that matter. “The world is with us on this,” Mr. Geithner said. “We will do what is necessary to get the economy moving again.” The German finance minister, Peer Steinbrueck, stressed that any economic stimulus must work itself through the system before governments can contemplate further steps aimed at reviving consumer demand. Germany’s view stands in conflict with that of the United States, Britain and Japan, which pressed for further stimulus packages. The dispute between the United States and continental Europe highlights a continuing gap on a range of economic and strategic issues, including matters like sharing the burden of fighting the war in Afghanistan. Despite the widespread popular appeal of President Obama outside the United States, the underlying divisions and conflicting goals could prevent the G-20 summit from presenting a broad call to economic arms as it had initially intended.