Turkish Deputy Prime Minister Ali Babacan, who represented Turkey at the meeting in Moscow, said that with the decisions they have made, the American and European central banks have successfully managed to persuade markets that they will not let countries collapse financially.
Bank governors from the world’s most developed 20 countries took up monetary and tax policies at the meeting in Moscow.
The governors of G20 banks agreed on a communiqué that includes a commitment to refrain from competitive devaluations and stated that monetary policy would be directed at price stability and growth.
In a speech he delivered at the meeting, Ali Babacan said that the euro zone, which is the epicentre of the latest financial crisis, has taken significant steps in direction for being also a financial union which will cover a united banking system.
Noting that European Financial Stability Mechanism has become operative, Mr. Babacan recalled that economic programmes in Greece, Portugal and Ireland have started in order to provide financial stability.
|
Source : trt-world.com
Hit : 833
|
