Posted by: arkachips | April 2, 2009

G20: £747 billion rescue fund

No ficscal stimulus.

– $1.1 trillion
– reform of regulation of financial system (pay, bonuses, tax havens, hedge funds)
– clean up toxic assets
– boost growth, but no fiscal stimulus
– $750 billion to IMF for troubled economies
– $250 billion trade credit package
– $50 billion for poor countries

Link for a more detailed look.

What does it mean? We’ll know soon enough. The markets sure are happy though, and maybe they’ll stay happy this time instead of yo-yo-ing.


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