The leaders of the world’s largest economies insisted on Sunday on implementing tough capital rules to force banks to hold sufficient buffers to guard against a future crisis, but there will be something of a delay before they take effect.

Most of the questions surrounding tougher capital and liquidity requirements for banks were dodged until November’s summit in Seoul, effectively kicking the issue into the long grass while leaders work out their differences.

They did agree on one thing though – to cut national budget deficits while endeavouring to promote economic growth (nice and specific), giving Cameron’s coalition government something to write home about.