Poll shows deep scepticism over the long-term effects of the $1 trillion agreement, struck earlier this month.
Financial services professionals have poured cold water on the prospects of the recent G20 agreement to properly tackle the global recession.
According to a poll of "industry players" from the Securities & Investment Institute (SII), just 11 percent believe that the $1 trillion package will have a "significant impact" on growth.
Meeting in London earlier this month, G20 nations agreed a range of reforms, including an agreement to treble the International Monetary Fund (IMF) in size. The meeting came at a time of a severe economic downturn in member states precipitated by the credit crunch and banking crisis. The IMF said recently that it expected global economic growth to go well below zero in 2009 - unprecedented in recent decades.
In the UK, chancellor of the exchequer Alistair Darling said in his Budget speech that the recession will lead to the UK economy shrinking by 3.5 percent in 2009. The government was also predicted to run up £175 billion in debts, equivalent to over 12 percent of national output, over the period.
The SII returned comments including "the G20 was a meaningless talking shop with no real decisions made" and "20 leaders cannot decide the state of the economy". However, some of the comments disagreed, with one stating that "an agreement made by major powers with a similar objective in tackling global recession will surely have a significant impact".
Around 40,000 people in the UK are members of the SII.
