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Finance ministers and central bank governors of the G20 nations met in South Korea over this past weekend for their 2010 summit. Key items on the agenda included the uneven global economic recovery, the need for fiscal discipline amongst the most advanced economies, and an agreement on managing currency conflicts. Also on the docket, the G20 sought to endorse the Basel III banking reforms agreed upon in September by Group of Governors and Heads of Supervision of the Bank of International Settlements (BIS).  In its statement, released on Saturday, the G20 ministers offered this endorsement, stating that they “… welcome and commit to fully implement within the agreed timeframe the new bank capital and liquidity framework drawn up by the Basel Committee …”

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