Daniel Price News
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As Mexico gears up to host finance officials from the Group of 20 biggest economies a number of key absences threaten to turn the gathering into a non-event.
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The Group of Seven may have been counted out too soon.
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World leaders are cutting back their visits to the United Nations General Assembly session this week as they find the Group of 20 and other smaller gatherings more effective venues to debate international problems.
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World leaders told Europe to pull together to overcome its debt crisis, endorsing a road map for tighter integration to cut borrowing costs and prevent further damage to the global economy.
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President Barack Obama used the annual meeting of the United Nations General Assembly to press leaders, in public and private, to take “coordinated action” to prevent the world’s economy from slipping into a recession.
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Central banks intensified warnings that Europe’s failure to tame its debt crisis threatens to roil the world’s financial markets and economy as Greece’s election in two days looms as the next flashpoint for investors.
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Group of 20 finance chiefs may intensify pressure on one of their own today as the U.S.-led campaign for China to revalue the yuan broadens from Washington to Mumbai and Brussels.
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U.K. Prime Minister David Cameron is showing the way on fiscal austerity as he attends his first summit of world leaders today. Whether his path leads to recovery or another recession is driving a transatlantic dispute that will dominate the talks in Canada.
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