Leaders agree to cut budget deficits in half by 2013, with each country setting its own pace, while allowing stimulus spending to continue for now.
G20 leaders agreed to take action on global economic concerns and the environment at the group’s meeting this weekend in Canada — vowing to halve budgets deficits by 2013, reduce government subsidies for oil companies and increase efforts to protect marine species, UN Wire reported. The economic measure gives countries room to make fiscal adjustments to stimulus and incentive plans enacted during 2009 at their own pace. Canadian authorities arrested more than 400 protesters during violent confrontations that saw restaurants, banks and retail outfits attacked over the weekend.
Also, The Independent reports, anti-riot officers fanned through downtown Toronto in a show of strength to deter a repeat of the violent demonstrations that erupted within blocks of the G20 summit which ended in more than 400 arrests, smashed shop-fronts and burned out police cars. Read that story here: More than 400 arrests after violent protests – The Independent.