Two leaders most opposed to America’s plans to beat the recession have called for reform not spending.
German Chancellor Angela Merkel and Russia’s President Dmitri Medvedev met in Berlin ahead of this week’s G20 summit in London. Discussions focused on common ways out of the financial crisis, as well as Russia’s relations with the EU and NATO. President Medvedev said: ‘‘The current system is not ideal. We cannot develop in a durable and stable manner during the next 10 years if we do not create a modern infrastructure, including new currency systems.’‘ Like Berlin, Moscow is reluctant to answer Barack Obama’s call to spend it’s way out of the global economic slump, favouring financial reform instead.