G20 agrees on need for coordinated measures-Brazil

The G20 group of advanced and big emerging economies agreed on Sunday on the need for coordinated action to fight the financial crisis, G20 president Brazil said. But Brazilian Finance Minister Guido Mantega said after a G20 annual meeting that details of possible coordinated action had not yet been finalised and there was no agreement on proposals to increase regulation in financial markets.
"There is consensus that we need coordinated action to deal with the crisis," Mantega told a news conference. "It requires global action and so there is a need for institutions that are suitable for this kind of common and coordinated action. This has not yet been resolved but the G20 is a strong candidate to be the co-ordinator."