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Text of report in English by South Korean newspaper Chungang Ilbo website on 30 June
JOONGANG ILBO) -World powers made headway on mending their deficits at the recent G-20 Summit in Toronto, Canada. The 20 countries agreed to halve their deficits by 2013 and stabilize or reduce government debt-to-GDP levels by 2016. The initiative suggests that the G-20, which has served as an effective platform for global economic issues since the financial meltdown two years ago, has veered away from its commitment to salvage the global economy and moved on to tightening and austerity measures to restore fiscal health in individual nations.
The agreement is a kind of middle ground, …