(Adds Schaeuble quotes)
BADEN BADEN, Germany, March 17 Finance leaders
of the world's top economies are still searching for a
compromise on how to summarise their joint stance on global
trade and open markets, German Finance Minister Wolfgang
Schaeuble said on Friday.
Speaking at the G20 meeting of finance ministers and central
bank governors in the German town of Baden-Baden, Schaeuble said
there were still differing views on the subject among the
delegations sent from around the world.
He added, however, that he was confident that the G20
countries would reach a deal on that in its final communique to
be published on Saturday.
"I don't know the exact wording but nobody has raised the
issue of protectionism yet and I don't believe that we have to
deal with this a lot," Schaeuble said.
"It's about finding the right wording, it's about how we
phrase the openness of the world trade system in the final
communique," Schaeuble said, adding there were some "sensible
positions" on the subject among some delegations.
The latest draft of the communique, for now, makes no
reference to trade and protectionism issues, breaking with a
decade-old tradition of G20 communiques which have, over the
years, used various formulations to endorse free trade and
Schaeuble also said G20 finance leaders were not overly
concerned that hard-fought financial market regulation would be
The new U.S. administration has argued that excessive bank
regulation is saddling lending and holding back growth, raising
the prospect that regulation would be rolled back and efforts to
finalise a new global accord, called Basel III, would run
European leaders have argued that new regulation is the
pillar of stability and removing them would sow the seeds of a
Asked about if he was worried that the United States might
roll back financial market regulation, Schaeuble said: "This
concern is not big."
(Reporting by Michael Nienaber; Writing by Balazs Koranyi)