Stability.Growth.Jobs.

A joke about France and it's three values all revolved on the use of punctuation between them and went something like this:

"Liberty, Equality, Fraternity. Liberty (none!) Equality (none!) Fraternity (none).

One thinks of this joke looking at the G20 leaders standing together in front of the words "Stability, Growth, Jobs" in big, just off-white letters at the London conference. Everybody was lining up to lay claim to the success of the outing. They hammered out a six-point plan that will introduce more than $1 trillion into the world economy. The issues addressed included a boost for the IMF, an agreement over tax havens, a global trade agreement, fiscal stimulus on an individual nation basis, free trade, financial regulation and a crack down on bankers (although the idea of a global regulatory authority was a nonstarter for the Obama administration). But, as German Chancellor Angela Merkel pointed out, what matters is how the regulations she got passed work out in the real world. So we'll have to wait and see if the result is Stability (none!) Growth (none!) Jobs (none).