After the Lord Mayor's ball

After the glitz and glamour of yesterday people are starting to analyse the figures that came out of the G20.

As usual Wat Tyler is sceptical of it all at his Burning Our money blog and points out that

In terms of Cold Hard Cash, the actual new money pledged to the IMF amounts to $240bn, less than one-quarter of the $1.1 trillion in the G20 headline. That $240bn is coming from just three lenders - China ($40bn), Japan ($100bn), and the EU ($100bn). None is coming from the US, and the $100bn from Japan has already been announced once, in February. So real new money amounts to just $140bn, or less than 0.2% of world GDP (pre-Crash).

adding that

As we know, Gordo has a long and shameful record of numerical exaggeration and double-counting. Most of his budget speeches were crammed full of such stuff, and he's now taken precisely the same skills onto the G20 stage.