German finmin sees good chance of G20 deal

A Group of 20 meeting on Saturday has a good chance of breaking a deadlock over which indicators to use to measure global economic imbalances, German Finance Minister Wolfgang Schaeuble said.

Schaeuble also said Germany was backing French proposals to work on increasing transparency in commodity markets and for implementing a financial transaction tax -- something they will put again to the group of leading economic powers. "I think we will reach agreement today on which indicators we measure imbalances in the future, to fight timely mis-developements, to come to a balanced growth," Schaeuble told reporters at the meeting of G20 finance ministers and central bankers in Paris. China rejected plans on Friday to use real exchange rates and currency reserves to measure global economic imbalances, casting heavy doubt on the ability of the group of major economic powers to reach agreement. "I have very much pledged that we should agree on a broad set of indicators, because this gives the best reliable means to fight the wrong kind of development." "Until April in Washington the process of implementation of indicators will be talked about."