Finance Minister Anders Borg (right) with his American colleague Timothy Geithner at the G20 meeting in Scotland.
Climate Change

Borg Disappointed After G20-meeting

Swedish Finance Minister Anders Borg was disappointed that his colleagues from the G20-countries could not agree on how to finance the cost of fighting climate change. The meeting of the world's 20 biggest economies took place in St Andrews in Scotland, and Borg was there to represent the EU.

The Finance Ministers agreed at the meeting that they wanted "an ambitious outcome" at the big UN climate summit in Copenhagen next month, but failed to back a concrete plan for helping poorer countries to pay for measures against climate change.

Borg told news agency AP that without such a deal "we will end up with a very difficult situation in Copenhagen".

But according to Swedish Radio News, he still has not given up hope that such an agreement could come into place before thee meeting in the Danish capital.

"you could have wished that we would have come further. Now we have got 30 days left until Copenhagen. These talks will conclude when we have reached the stage that there is political will," Borg said.

When asked if this will is going to be there, Borg replied: "that is a harder question. There has to be a bigger flexibility from the developing countries and we have to see to that also other countries than Europe are clear that they will contribute new and substantial means, and that means the Americans in particular. But from India, as well as from China and the US there has to be movement in order for us to move forward.

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