G20

'The time has come'

"Red warning lights" are once again flashing over the state of the global economy, the Prime Minister has said.

The US dollar has fallen to a one-year low against the euro ahead of the G20 and Federal Reserve meetings.

Finance ministers of the G20 countries have given tax havens until March 2010 to tackle tax evasion, or face harsh sanctions.

Bankers blamed for the global financial crisis will see their pay packages limited under a blueprint for steering the international economy towards recovery, according to the Independent.

As a result of the conclusions of the G20 summit, held last April in London, Madeira's International Business Centre has consolidated its position as a transparent jurisdiction, fully integrated in the new architecture of the world financial order.