HIGHLIGHTS - Comments from G20 finmins, c.bankers meeting - Yahoo! Finance

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HIGHLIGHTS - Comments from G20 finmins, c.bankers meeting

ST ANDREWS, Scotland (Reuters) - Following are comments on Saturday from Group of 20 finance ministers, central bank policymakers and officials meeting in Scotland.

PRIME MINISTER GORDON BROWN

On banking tax:

"There have been proposals for an insurance fee to reflect systemic risk or a resolution fund or contingent capital arrangements or a global transaction levy," Brown told a meeting of the G20 group of leading countries in Scotland.

"I do not in any way underestimate the enormous and difficult practical and technical issues that will need to be overcome that a globally cohesive system requires and raises," Brown said.

"But I do not think these issues should prevent us from considering with urgency the legitimate issues I have discussed."

On framework for rebalancing economy:

"Together we need to reduce sources of instability, including volatile oil and commodity prices.

"To make a reality of the new model for economic governance, the G20 will need to articulate more clearly and precisely these broad policy objectives.

"So the agreement you are explicitly discussing today commits G20 countries for the first time to set objectives; to assess how our individual policies for economic development fit together; to evaluate whether these will deliver our objectives; and judge if further action is needed."

On growth:

"While recent indications of economic expansion give cause for cautious optimism they are not a reason to end economic stimulus prematurely," Brown told G20 ministers and central bankers.

CHANCELLOR ALISTAIR DARLING:

On climate change financing:

"I am perfectly well aware that round this table there are different views, there are arguments that we need to have ... and some tough negotiating.

"I think it really is imperative that when we reach the end of the day that we have shown that we have made some real progress.

"It really is important that we as finance ministers are engaged in this, because if there isn't an agreement on finance ... then the Copenhagen agreement is going to be much, much more difficult.

"We won't have a final word today ... but I do think we need to make progress and show that we are willing to come to the table to play our part."

On global growth and new framework

"I hope we can agree we need to maintain our support for our economies until the recovery is established. We continue to do that because, while clearly confidence levels have returned, we are still in a position where there is a lot of uncertainty, a lot of risks that still need to be negotiated.

"We also, I think, need to agree a framework that will allow us to ensure we have growth over the next decade, because with growth will come jobs and will come the increasing prosperity upon which the people we represent depend.

"It's very important we get that framework for future growth, that we don't simply accept there is no alternative but a decade of austerity, of low growth and unemployment but instead we raise our sights, raise our ambition."

RUSSIAN DELEGATION SOURCE

Told Reuters there was no timeframe in the draft communique for when to start exit strategies.

There was no mention of the dollar either "and there was not expected to be."

FRENCH OFFICIAL

On climate change financing:

"The issue is whether we talk about it or not. Britain is quite motivated on this subject but there are some quite strong objections. The emerging market countries say it should not be discussed for procedural reasons, that the G20 is not the right forum."

(Reuters G20 newsroom)

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