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WRAPUP 5-UK floats bank levy, G20 launches imbalances framework

Sun Nov 8, 2009 1:11am IST
 
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* UK adds impetus to push for global financial levy

* Doubts remain over U.S. position, key for any progress

* Group of 20 divided on push to reach climate finance deal

* Pledges contd economic stimulus, recovery still fragile

* More at [G7/G8], communique: [ID:nFCC000060]

(Recasts after final news conferences)

By Sumeet Desai and Anna Willard

ST ANDREWS, Scotland, Nov 7 (Reuters) - Britain pressed the G20 on Saturday to come up with a plan to make banks pay for any future bailouts but one idea of imposing a global financial transactions tax was immediately shot down by the United States.

Meeting for the third time this year, Group of 20 finance ministers and central bankers made little progress on a deal on the cost of climate change after heated exchanges that did not bode well for next month's environmental summit in Copenhagen. [ID:nL7173783]  Continued...

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