G-20 economic leaders meet in Pittsburgh to plot course for sustainable economic recovery

September 24, 2009

(ChattahBox) — President Barack Obama heads to Pittsburgh this afternoon to host the G20 economic summit of world leaders starting Thursday.In the wake of starting to recover from the worst economic cataclysm since the Great Depression, the leaders of the world’s largest economies are expected to continue developing a global strategy for stimulus spending. They must decide whether to keep interceding, by pouring more government money into their respective economies, or whether to back off that strategy.

Other major issues leaders are expected to tackle at the two-day event include restructuring bankers’ bonuses based on long-term merit, instead of short-term risk-taking, overhauling financial regulation and plotting a future course for sustainable growth.  Analysts have said this G20 meeting is unlikely to end with a treaty-like consensus or trillion-dollar announcements.  The economic summit is also meant to showcase Pittsburgh — a city that President Obama says has exhibited an innovative 21st-century recovery after hard times following the plunge of much of the city’s steel industry.


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