socialmedian: G20 must not withdraw economic stimulus too soon, Alistair Darling warns

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G20 must not withdraw economic stimulus too soon, Alistair Darling warns

Source: The Guardian

Nov 06, 2009

Summary

G20 nations should not plan their exit strategies from the life support measures they implemented in the midst of financial crisis until they can ensure recovery is sustainable, the chancellor said tonight.

"There can be no room for complacency among G20 countries this weekend," Alistair Darling told an audience in Edinburgh.

"We must see through measures to support demand and repair the financial system, because we cannot yet be sure the global recovery has sufficient momentum to be sustained and durable.

"I am confident global recovery will come. But we are not there yet. There is still a lot of uncertainty and many risks to be negotiated … As we draw up our plans we must accept that the biggest risk would be to exit before the recovery is real."

Finance ministers from the world's 20 richest nations will begin their two-day summit tomorrow in St Andrews, Scotland. The aim of the meeting is to put flesh on the bones of agreements made at a leaders' summit in Pittsburgh in September.

As well as discussing how and when to withdraw the huge taxpayer support they ha

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