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Volume 496: debated on Wednesday 9 September 2009

An informal lunch of the Economic and Financial Affairs Council was held in Brussels on 2 September 2009.

The informal focused primarily on preparing a European position ahead of the meeting of G20 Finance Ministers and Central Bank Governors held on 4 and 5 September in London, including on IMF issues, executive remuneration and climate change financing. Ministers agreed to increase European resources available to the IMF, building on commitments made in the European Council conclusions in June. They also agreed that the G20 should move forward on reforms of financial regulation, stabilising the world economy, preparing for future growth and establishing sound compensation practices in the financial sector, building on the commitments made at the London summit.

The Economic Secretary to the Treasury represented the UK.