G-20 claims stimulus still needed

ST. ANDREWS, Scotland — Finance officials from the Group of 20 leading rich and emerging nations pledged Saturday to maintain emergency support for their economies until recovery is assured.

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U.S. Treasury Secretary Timothy Geithner said U.S. job figures showing unemployment at 10.2 percent "reinforced that this is still a very tough economic environment.”

While the "process of growth is now beginning,” that fledging growth still needs to be reinforced to create jobs and get businesses investing to underpin the recovery in the housing market and elsewhere, Geithner said.

"If we put the brakes on too quickly, we will weaken the economy and the financial system, unemployment will rise, more businesses will fail, budget deficits will rise, and the ultimate cost of the crisis will be greater,” he told reporters in Scotland. "It is too early to start to lean against recovery.”

The statement smoothed over divisions among G-20 nations about whether it was time to start talking about exit strategies to unwind massive stimulus measures.

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