G20 seeks indicator deal in Paris

At the G20 meeting in Paris, finance ministers and central bank governors will focus on which indicators should be used to measure global economic imbalances.

As France holds the rotating presidency of the group of 20 major developed and emerging economies, President Nicolas Sarkozy gave the welcome speech. He said he had no wish to exert pressure, and then added:

“I wouldn’t like your debates to get bogged down interminably over these indicators. There is a great temptation to place national interests first, but that would be the death of the G20.”

The European Union’s economic affairs commissioner, Olli Rehn, said the right indicators to tackle global imbalances included the current account, the real effective exchange rate

and currency reserves as well as public and private debt.

It is a two-day meeting.

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