MEXICO CITY Nov 4 The G20 risks becoming
irrelevant unless members follow through on commitments to
reduce their deficits and bolster bank capital to prevent
another global financial meltdown, Canadian Finance Minister Jim
Flaherty said on Sunday.
"It's important to keep the G20 as an effective
organization, that member countries keep their commitments.
Otherwise it becomes a paper tiger," Flaherty told reporters
just before a meeting of G20 finance ministers and central
bankers in Mexico City.
Canada, a strong proponent of tighter fiscal policy in
major economies, is willing to allow the United States more time
to meet its G20 pledge of halving its fiscal deficit by 2013.
Flaherty said he will push for the U.S. to commit to that goal
in "the medium term."