G20 :German Fin Min: Exit Strategy Talk Won't Come To End Yet

ST. ANDREWS, Scotland (DOW JONES)--The Group of 20 industrial and developing countries won't start implementing exit strategies at their meeting this weekend and discussions on the subject will continue, German Finance Minister Wolfgang Schaeuble said Friday. Schaeuble, who was speaking to reporters ahead of the meeting of G20 finance ministers and central bank chiefs, said he hopes that talks about climate change financing will make some progress. We will "see whether we will at least succeed to take one step forward," Schaeuble said. The G20 is due to discuss how to finance the fight against climate change, ahead of negotiations in December in Copenhagen for a new international agreement to limit global warming. Richer countries have yet to decide how they will contribute to ease the financial burden of developing countries as they struggle to reduce greenhouse gas emissions. The European Commission has said developing countries might need EUR100 billion a year by 2020 to help reduce emissions. So far, EU governments are divided on how much money the bloc should contribute, and on how the financial burden should be shared among member countries. Schaeuble, when commenting on discussions about exit strategies to withdraw massive fiscal stimulus injected in to global economies suffering from the financial crisis, said: "We don't start with it today, we will not come to an end today." To him, the G20 gathering is a working meeting to tackle tasks assigned by the G20 leaders at their summit in Pittsburgh, PA., at the end of September. "We are in the middle of our work," he said. This G20 meeting is Schaeuble's first international appearance in his new role as Germany's finance minister. He said it is important that he gets to know his colleagues and that they get to know him. -By Andrea Thomas, Dow Jones Newswires; +49 30 2888 4126; andrea.thomas@dowjones.com