The G20 summit ended with world leaders committing to open up their economies to generate extra output of more than 2 per cent by 2018, papering over splits between the US and Europe on strategy.
The leaders of the world’s 20 leading economies came up with more than 800 reform commitments, ranging from completing a US/EU trade deal to increasing competition, boosting skills and a new push on infrastructure investment.
However, Washington wants Europe – especially Germany – to act more swiftly to boost demand to avoid what Jack Lew, US Treasury secretary, has described as the risk of a “lost decade” in Europe.
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