FINANCIAL CRISIS

G-20 Document Leaks Ahead of Summit

Strong on unity, weak on details: A draft of a document to be released by the Group of 20 industrialized nations at this week's summit in London pledges "to avoid protectionism...but appears short on detail on a global approach to the fiscal stimulus package" the Financial Times reports. The draft delivers a unified message, but there is little doubt that there are major points of debate to be discussed at the summit Thursday. The 24-point communiqué states that many of the actions already taken by the global alliance will create more than 2 million jobs. It also addresses many of the major concerns going into the summit: Hedge funds will be more closely monitored, "tax havens" will be "named and shamed," and executive bonuses should reflect competence. As is par for the course at global summits, there is also a call for greater representation and participation of poor and developing nations.