G20 Mash Up

A quick summary of what came out of the G20 meeting last weekend cannot hurt, so let’s go ! (Oh, and there is also a version Francaise)

For the record, the G20 gathers leaders from the biggest or more influential economies in the World, the 20th member being the European Union. Also invited to the summit are representatives of the IMF and World Bank. This was the fourth summit since November 2008 when the G20 met to discuss on the Financial crisis ; it has been decided soon after than the G20 will replace the G8, although the G8 met also this last weekend, prior to the G20 meeting. The next G20 summit is planned for November 2010 in Seoul, South Korea.

Europe came to this summit whit clear objectives to defend the deficit reduction, financial reform and bank tax…

At the end of the summit, the final declaration gives reason to everybody and thus, is useless ; basically, here are the conclusions :

  • Countries are called to cut their deficit by half by 2013.
  • Europe will release the result of its banks stress tests.
  • Nothing on bank tax.
  • Nothing precise on financial reform.

To sum it up : no ideas has been specifically rejected, but none have been accepted either… Everybody gave his opinion, everybody agrees to say that spending too much money is bad, and that one should continue to support economic growth and cut deficit.

An optimistic declaration of good intention is all that we got from this big summit… Some would argue that a conference call would have produce the same result.

And finally, a good bunch of articles gathered on the subject, so you can read more details by yourself :


One Comment on “G20 Mash Up”

  1. […] leave a comment » Un très rapide résumé de ce qui est ressortit du G20 le weekend dernier ne peut pas faire de mal, alors allons-y ! (Oh, et il y a aussi une English Version) […]

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