G20 nations agree to continue stimulus, split on financial transactions tax

g20-nations-agree-to-continue-stimulus-split-on-financial-trans
g20-nations-agree-to-continue-stimulus-split-on-financial-trans

Markets soared worldwide following the announcement of the decision by the G20 finance leaders to maintain stimulus measures as long as U.S. employment figures remained weak. They agreed the stimulus is needed until the recovery is assured.

But G20 members were split on how to assure that there will never again be a need for a similar bailout. U.K. Prime Minister Gordon Brown (pictured) shocked many attendees when he announced support for a tax on financial transactions. This tax would be used to pay for future bailouts. Germany and France have been pushing the idea, but this is the first time the U.K. had come out in favor of it.