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
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
realise 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
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 prioritise 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
Asked whether U.S., Europe can overcome gap in views on
whether to prioritise 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 prioritising 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