- Chrysler Lenders Offer To Take Stock To Cut Debt
- Japan Exports Weak But Shows Signs of Recovery
- The Latest Threat to Housing: Worsening Job Losses
- Nestle Comparable Sales Rise, Reaffirms Outlook
- Roche Drug Avastin Fails Cancer Study
- History Says Pullback From Stock Rally a Solid Bet
- NY City Probes if Quadrangle Misled Pension Funds
- Capital One Reports Deeper Loss than Expected
- Heineken Quarterly Volumes Drop, Outlook Unclear
- Con Ed Shrugs Off Carbon Tax
- Lightning Round OT: Unilever, Tenet Healthcare and More
- Lightning Round: Yamana, Cree, Reynolds American and More
- Technician’s Taste Test: Coke Vs. Pepsi
- Halliburton: Buy or Sell?
- Panic as Investment Strategy
- Your First Move For Wednesday April 22nd
- Fast and Furious Trades: Key Earnings Questions Before The Bell
- Chartology: When and Where To Buy In
Text Size 
The upcoming G20 summit should pledge an overhaul of financial institutions, map out an exit from governments' spending sprees and commit to a climate deal, European Commission President Jose Manuel Barroso said.
Speaking about the 27-nation European Union's priorities for the April 2 summit on the global financial crisis, Barroso said the bloc should allow countries such as China or India to have a bigger say in a reformed International Monetary Fund.
"Emerging economies must have an equitable stake. EU member states will have to be flexible on how this is achieved," Barroso told a news conference on Tuesday.
 |
Armando Franca / AP |
The EU will opt for a massive increase of IMF resources, to which it will contribute 75 billion euros ($99.3 billion), he said.
The G20 leading and emerging countries should also commit themselves on reforming capital requirements for banks, better oversee hedge funds, overhaul credit rating agencies, improve accounting standards and remuneration, he added.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes