World | G20 G20 Nations Brush Off Goals by Geithner He's proposing better guidelines on currency rates, deficits By Matt Cantor Posted Oct 21, 2010 1:19 PM CDT Copied Treasury Secretary Timothy Geithner gestures during a talk to the Commonwealth Club in Palo Alto, Calif., Monday, Oct. 18, 2010. (AP Photo/Paul Sakuma) G20 officials aren’t likely to accept US proposals to better monitor exchange rates along with trade deficits and surpluses, an insider tells Reuters. Timothy Geithner had hoped to set numerical targets for surpluses and deficits as well as "norms" on currency rate policy. "Right now, there is no established sense of what's fair,” he told the Wall Street Journal. But other members, among them India, China, and Germany, rejected the ideas. “Macroeconomic fine-tuning and quantitative targets are not the right approach in our view,” said Germany’s economy minister. “I am not sure that this will be supported by very many emerging economies,” noted an Indian finance official. A Russian finance minister, meanwhile, held that it was up to the US to first take action on its own deficit. Read These Next Giuliani injured in high-speed highway crash. Iran's leaders ditched their phones. Their bodyguards didn't. It's an unexpected footnote in the life of Buford Pusser. 'Stand down,' Chicago mayor tells Trump. Report an error