G20 leaders make banking bonuses their main target
Today saw the beginning of the G20 summit where all leaders present appear to have agreed a way forward to contain and control banking remuneration packages in the future. Despite the fact that there are so many other issues to consider, none greater than the worldwide economy, it seems that G20 leaders are still looking to grab the headlines as they have done in each and every G20 summit.
There are concerns that the bid to grab as many headlines as possible will actually take away from the main subjects of the G20 meeting which surprise, surprise are not the banking remuneration packages. At a time when the worldwide economy does appear to at least be stabilising, consumers around the world are looking towards the G20 summit for signs of confidence and hope for the short to medium term.
However, there are some rain clouds on the horizon with regards to the worldwide economy as highlighted by the Bank of England earlier this week. Those who believe that financial assistance around the world can be brought to a halt, and economic recovery continues at the same rate may well be in for a surprise. The concern is that economies around the world are not strong enough to take up the slack as and when these fiscal stimulus packages are removed.
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