Morning Brief: What’s the G-20’s deal?

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Talks are ongoing, but it appears that G-20 leaders are close to a deal that would pledge an additional $500 billion for the IMF to assist struggling governments and create new financial regulations to prevent “banking secrecy.” 

While conceding some U.S. responsibility for the global financial crisis, U.S. President Barack Obama has resisted regulatory proposals that could reach inside U.S. borders. Though Obama and British Prime Minister Gordon Brown have downplayed the differences, Germany’ Angela Merkel and France’s Nicolas Sarkozy remain adamant about pushing for regulation.

Obama also said the world was entering a new era in which the U.S. could not be relied upon has the sole driver of economic growth. “Everybody is going to have to pick up the pace,” he said.

Middle East

Israel’s new foreign minister Avigdor Lieberman has already provoked controversy by saying the 2007 Annapolis agreement “has no validity.” He was immediately criticized by his predecessor, Tzipi Livni.

The Palestinian authority has warned it could dissolve if Israel does not continue serious peace negotiations.

Despite the Iraqi government’s clashes with Sunni paramilitaries last week, it has agreed to pay them.

Asia

Pakistani Taliban leader Baitullah Mehsud threatened to carry out attacks in the United States in retaliation for U.S. drone strikes on Pakistan.

North Korea may carry out its planned missile launch as early as this weekend.

Malaysia’s reformist prime minister has resigned.

Europe

86 arrests were made at the G-20 protests in London yesterday. More marches are expected today.

A general strike has shut down public services and transportation in Greece.

Sweden’s parliament voted to legalize same-sex marriage.

Americas

The U.S. announced more funding to crack down on weapons smuggling on the U.S.-Mexican border.

Former Peruvian president Alberto Fujimori testified in court to defend himself from human rights abuse charges.

A new internal report criticizes U.S. intelligence agencies for years of mismanagement.

Africa

Meidator Kofi Annan has threatened to turn over the names of perpetrators of Kenya’s 2008 post-election violence to the International Criminal Court unless Kenya tries them.

The Obama administration’s new envoy told the Sudanese government that the United States seeks “friendship and cooperation” with the country.

The search for survivors of the ferry carrying African migrants that sank off the coast of Libya on Sunday has been called off.

DOMINIQUE FAGET/AFP/Getty Images