NEW YORK ( TheStreet) -- The Group of 20 nations will make sure banks have sufficient capital, while the European Union will do all it can to ensure that its bailout fund packs maximum punch, according to a published media report.Those pledges are included in a draft communiqué from the G20 talks in Paris, Dow Jones Newswires reported. At the talks on Friday and Saturday, finance ministers from the world's major developed and developing economies were discussing ways of stemming the eurozone's debt crisis and preventing it from dragging down the global economy. > > Bull or Bear? Vote in Our Poll U.S. markets cheered news earlier this week that all 17 members of the European Union had approved an expansion of the region's bailout fund, known as the European Financial Stability Fund. Investors and traders also wanted to see progress on plans to ensure that Europe's banks -- which are exposed to Greek debt, as well as to the bonds of other weak eurozone economies -- have sufficient capital to weather the crisis and prevent it from dragging down the world financial system.
|U.S. Treasury Secretary Timothy Geithner, left, speaks with French central bank governor Christian Noyer, during the group picture at the French finance ministry in Paris, Saturday Oct. 15, 2011.|