U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012.  REUTERS/Shamil Zhumatov  (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

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Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012.  REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

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Policymakers' comments at meeting of G20 finmins

Fri Mar 13, 2009 4:56pm EDT

Following are comments from finance ministers and central bankers at the meeting of the Group of 20 leading developed and developing nations in southern England on Friday.

RUSSIAN FINANCE MINISTER ALEXEI KUDRIN

"Protectionism is a special question, unlike any others. There are very few differences on this issue but to implement this will be very difficult."

CANADIAN FINANCE MINISTER JIM FLAHERTY

On this weekend's summit

"The key here is that there be concrete action and a clear message."

On the banks

"Hopefully we will have an agreement on steps to be taken and I would hope some timeline about steps to be taken to isolate toxic assets in banks, that is fundamental. There has been some delay with respect to solving it....In the U.S. and Europe there is still work to be done."

FRENCH ECONOMY MINISTER CHRISTINE LAGARDE

Asked what she expected from the summit:

"Results, differences of opinion, compromise and consensus. We must all be able to share our respective positions and realize also what we've put in place so that we share the analysis of the situation and evaluate the measures we have already put in place and that we discuss the four pillars which are regulation, saving the banks, stimulus and world governance and the best compromise between our respective positions. I am very optimist."

Asked whether China should contribute to increasing IMF resources she said: "Everybody should participate."

JAPAN FINANCE MINISTER KAORU YOSANO

"We understand the need for financial regulation but what's important is to prioritize measures to escape the current economic and financial crisis," Yosano told reporters after meeting with U.S. Treasury Secretary Timothy Geithner.

"I suspect Japan and the United States broadly share this understanding."

Asked whether U.S., Europe can overcome gap in views on whether to prioritize fiscal stimulus or financial regulation

"They are both important issues that need to be resolved. It's a problem of which one to deal with first."

Asked if Japan will try to bridge the gap in U.S., European views on prioritizing fiscal stimulus to financial regulation

"No, that's not the case. Each country has to mind its own country's economic situation, so it's natural for there to be differences in opinion."

BRAZIL FINANCE MINISTER GUIDO MANTEGA

On International Monetary Fund representation and funding: "There is still imbalance in the representation at the IMF. There will be no additional funding (by the BRIC countries comprising Brazil, Russia, India and China) to the IMF as long as the representation of the BRICS does not change."

UK FINANCE MINISTER ALISTAIR DARLING

On possible EU contribution to IMF funds:

"We first need to agree what the global figure needs to be."

On concessions by Switzerland on banking transparency:

"Could they go further? Of course they could go further." (Compiled by Victoria Main; London Treasury Desk +44 207 542 4441)

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