Restoring the confidence of consumers and institutions should be one of the priorities of countries in trying to resolve the global financial crisis, said British Chancellor Alistair Darling at the conclusion of G-20 leaders in London.
Darling told a news conference that the finance ministers and central bank governors agreed that restoring confidence would promote better regulation of financial institutions, including hedge funds.
The group, representing 20 industrialized and developing economies, convened Friday to lay the groundwork for next week’s European Council meeting and the April 2 G-20 summit in London.
Earlier British Prime Minister Gordon Brown called Saturday for fiscal cooperation among countries especially in the area of regulation to help prevent future economic crises.
"Regulators in one country must cooperate more closely in another country to create a global network of supervision," Brown said at a news conference with German Chancellor Angela Merkel.
Brown said the G-20 meetings plus the gathering of European leaders last month in Berlin share the same agenda: to put economies on a path toward growth, create jobs and help businesses and families weather the current global financial downturn.
Leaders at the Berlin meeting concluded that the world needs a "global New Deal" to haul it out of the economic crisis.
From : Cnn
