20 ways the G20 can save the world: part one
Its only two days to go before the G20 summit and after a promising beginning to the preliminary negations the last few days have seen increasingly acrimonious disagreements between several leading participants. The most notable split is between the British and American desire for an increased fiscal stimulus to be applied globally to maximise the effect and try and kick start world trade and France and Germany who have rejected this unproven and uncertain plan and are pushing for agreement on stricter international regulation.
The effect of this has been that many commentators are swiftly downgrading their definition of a successful outcome. The summit was never likely to result in a bold reshaping of the worlds economy but now any agreement is likely to be far more modest and could be limited to the sort of anodyne rhetoric that we usually see from such summits but is unlikely to meet the need for action that the global economy so desperately requires. But as the final hours tick down their will be frantic diplomatic efforts to present a united front when the summit concludes.
Donning our most optimistic hats we will be examining the 20 things the G20 participants can do to make the summit work and produce a positive outcome. Today we will be looking at the more immediate needs of the global economy and in the concluding part tomorrow we will look at some of the long term plans that can help to prevent a repeat of the last years economic turbulence.
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