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Carmen Reinhart

Debt Levels, Big Monetary Stimulus on Tap at G20

Finance leaders of the G20 economies on Friday were set to debate specific targets for reigning in debt levels and the potential dangers from the latest round of aggressive easing of monetary policy from the world's biggest central banks.They were also poised to demand swifter resolution to setting guidelines for financial benchmarks like the Libor interest rate in the wake of a global rate-rigging scandal.But a rethinking of the austerity push among the world's biggest economies loomed as the biggest talking point. Advanced economies, particularly in Europe, have undertaken sharp austerity drives in recent years to curb growing debt, but those efforts have at times damaged economies already suffering from capital flight and under-investment from the private sector.EU Economic and Monetary Affairs Commissioner Olli Rehn told Reuters in an interview on Thursday that a period of reduced spending and borrowing was necessary to calm markets concerned about out-of-control debt levels, parti...

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