• Will say global outlook is more positive, but stress need for “elaboration of credible exit strategies”
• Not expected to mention Chinese currency explicity
• Not sure yet whether final communique will mention Greece
• There are real risks associated with multi-speed recovery
• Unaware of any G20 country outside 3 Europeans which favour imposing global bank levy
• Seeing IMF report on global rebalancing, there were genuine concerns about downside risks
• Communique will include 2 page annex on principles and objectives of global rebalancing plan
• Agreed not to single out individual countries in global rebalancing plan, but aggregate into groups
• Very surprised by level of engagement among all members on need for global rebalancing, peer reviews
• Communique will reiterate need to focus on core financial reforms like capital standards, leverage caps
• Very hopeful of agreements on world bank capital increase, governance reforms on weekend