G20 adopt list of principles to strengthen economic resilience | Reuters

By Michael Nienaber | BADEN-BADEN, Germany BADEN-BADEN, Germany The world's financial leaders adopted a list of principles on Saturday to boost the resilience of their economies against future shocks, including the advice to strengthen policy frameworks to reap the benefits of open markets."The risks for the global economy continue to persist of course, some even say they have rather increased," German Finance Minister Wolfgang Schaeuble said on Saturday during a news conference at the end of the G20 meeting in Baden-Baden."This is why it's all the more important that we are well prepared," Schaeuble said, adding that strengthening the economic resilience against future shocks was one of the priorities of the German G20 presidency.Schaeuble said the adopted list of principles included policy recommendations for example on labour market regulation, but also for international trade and the "importance of open markets". The adopted document, of which Reuters obtained a copy, is entitled "Note on Resilience Principles in G20 Economies".

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