WASHINGTON, June 23 (Reuters) - The Group of 20 major economies will warn against complacency in tackling the global economic crisis and say that sickly public accounts could hurt long-term growth, a draft G20 document shows.
The draft version of the summit communique, obtained by Reuters and drawn up before a G20 leaders meeting this weekend in Toronto, reflected the different views within the G20 on how to proceed with economic policy.
The draft, dated June 11, said the recovery was "uneven and fragile" with unemployment at unacceptable levels. "There is no room for complacency," it said.
At the same time, it said "fiscal challenges in many states are creating market volatility, and could seriously threaten the recovery and weaken prospects for long-term growth."
The United States has argued for continued stimulus spending by governments to ensure the global economic recovery does not fizzle out.
Other countries, such as Germany, intend to cut spending quickly in order to bring down public debts and deficits.
The draft said "further actions" were needed to tackle the causes of the global financial crisis and "promote more responsible and transparent banking sectors."
Reforms of banking around the world, along with ways to ensure the recovery of the global economy, are high on the agenda of the summit.
The draft also said the G20 would push for conclusion of a long-delayed world trade deal and would pledge to extend a commitment not to raise barriers to investment or trade for three more years, through 2013.
(Reporting by Jeff Mason; Editing by William Schomberg)