9/1/2009

Peer Steinbruck, Germany's finance minister, called for a global, coordinated exit strategy from stimulus efforts that have bolstered economies and driven up deficits. He also called on leaders from the Group of 20 nations to consider ways to fairly distribute burdens resulting from the financial crisis. Steinbruck sent a letter to central bankers and finance ministers calling for greater personal responsibility among senior bank managers and increased authority for banking regulators to demand higher capital requirements for financial institutions.

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