The G-20 forum is the avenue for the G20 economies to discuss, plan and monitor international economic cooperation.
Agenda
Host
considers his plans and expectations for the upcoming summit to be ambitious, but realistic. He expects that international monetary system reform will involve working closely with the IMF Managing Director.
The summit leaders are expected to tackle several mid- and long-term policy issues, many of which remained unresolved at the end of the previous summits in Toronto and Seoul. The agenda has evolved over time:
2010 Projected summit goals:
Ensuring global economic recovery
Framework for strong, sustainable, and balanced global growth
Strengthening the international financial regulatory system
Modernising the international financial institutions
Global financial safety nets
Development issues
2011: Priorities of the French presidency:
Coordinating economic policies and reducing global macroeconomic imbalances
Strengthening financial regulation
Reforming the International Monetary System
Combating commodity price volatility
Improving global governance
Working on behalf of development
Though the summit has intended to discuss reforms to the global monetary system and to rein in financial speculation and capital flows, a surprising decision by Greece to hold a referendum caused a new change to the discussions as the Eurozone Financial Stability Facility took precedence over other issues.
The final agenda for the summit has not been determined, but each leader of the G-20 could bring his or her own agenda to the summit. Brazil, as led by President Dilma Roussef and Finance Minister Guido Mantega, was expected to call on the eurozone countries to stop ditherting amid concerns of a global economic slowdown that would hurt emerging economies. Mantega said that: "The Europeans always take too long to find solutions. And when they come they come late." British Prime Minister David Cameron was expected to urge a stronger outline for the bailout package that led to the Greek referendum, but also refused to offer more direct funds for the Greek bailout. His comments were somewhat controverisal as the U.K. is not a part of the eurozone.
Attendance
Leaders of the G20 countries present at the Cannes summit.
The prospective participants at the Cannes summit include leaders and representatives of the core members of the G-20 major economies, which comprises 19 countries and the European Union which is represented by its two governing bodies, the European Council and the European Commission. Representatives of other nations and regional organizations are expected to take part in the summit.
- All about: Luxembourg, Nicolas Sarkozy, Juncker,
No comments:
Post a Comment