G20: leaders assemble as divisions emerge on whether to cut or spend

G20: Leaders Assemble As Divisions Emerge On Whether To Cut Or Spend -- The Telegraph

The leaders of the world's biggest economies will assemble in Toronto this weekend for a G-20 summit, amid growing tensions on how best to head off a second global recession.

The G20 summit, which starts in the Canadian capital on Saturday, comes as the Obama administration insists that governments' policies must focus on bolstering the recovery, rather than immediately tackling deficits.

“We must demonstrate a commitment to reducing long-term deficits, but not at the price of short-term growth,” US Treasury Secretary Tim Geithner argued in an article in the Wall Street Journal. “Without growth now, deficits will rise further.”

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