The U.S President Barack Obama has said the world's leading nations have agreed tough new regulations to prevent another global financial crisis. The G20 group of leading and emerging economies will become a permanent body co-ordinating the world economy. Global leaders also announced a deal to shift the balance of voting in the International Monetary Fund (IMF) towards growing nations such as China. <br/><br/>Mr. Obama said we have agreed tough new financial regulations to ensure that the reckless few can no longer be allowed to put the global financial system at risk. He said that leading nations would now be allowed to assess each others' economic policies. <br/><br/>Mr. Obama added that the leaders had agreed rules to ensure that executive pay would be linked to long term financial performance. <br/>