G20 agrees €2 trillion development agenda

Group of 20 leaders have agreed to take measures that would boost their economies by a collective $2 trillion by 2018 as they battle patchy growth and the threat of a European recession.

Citing risks from financial markets and geopolitical tensions, the leaders said the global economy is being held back by lacklustre demand, according to their communique following a two-day summit that ended yesterday in Brisbane, Australia.

The group submitted close to 1,000 policy changes they said would lift growth and said they would hold each other to account to ensure they are implemented.