Politics & Government

April 2, 2009

G-20 reaches accord after Obama steps in to broker a deal

The G-20 adjourned Thursday agreeing to added spending to stimulate growth, new regulation over all "systemically important" financial institutions, an increase of $1 trillion for the International Monetary Fund and an effort to list tax havens as a way to "name and shame" them into becoming more transparent and cooperating with international rules. But the accord almost didn't happen because of a dispute between France and China. That was when Obama stepped in, according to White House officials.

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