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Australia seeks coordinated G20 exit strategy-Rudd

Published 09/24/2009, 07:24 PM
Updated 09/24/2009, 07:27 PM

PITTSBURGH, Sept 24 (Reuters) - World leaders at a Group of 20 summit need to agree on a coordinated exit strategy from government actions taken over the past year to prop up the global economy, Australian Prime Kevin Rudd said on Thursday.

Leaders must "embrace medium-term strategies for (a) coordinated exit ... from the emergency financial market interventions, fiscal interventions and other inventions that have occurred to deal with the immediacy of the crisis of the past 12 months," Rudd told reporters.

Rudd also said Australia supported the "earliest possible conclusion" of the Doha round of world trade talks, but does not expect leaders to resolve the many difficult issues blocking a breakthrough by the time they finish their two-day gathering in Pittsburgh on Friday.

Australian Treasurer Wayne Swan said he expected leaders to outline a "rigorous framework" for dealing with excessive executive compensation packages, which he said had led financial firms in some cases to take unreasonable risks. (Reporting by Doug Palmer, Editing by Frances Kerry)

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