The Big G20

The big 2-0. The G-2-0.

Everyone is waiting for the results of the leaders summit, but a few people are concerned it will be useless information in terms of pulling the economy out of the current recession. Blogger Simon Johnson thinks the summit  will not be able to pin down the cause of the crisis or what will be able to sustain a recovery

Almost all the important issues are kept off the table by anachronistic diplomatic niceties: monetary policy around the world, Europe’s impending crisis, and how to escape the overweening power of major banks in almost all industrial countries.  The G20 summit has substantially failed even before it begins.

The Australian Financial Review also voices concerns for the event, fearing that it will be a failure if the leaders cannot agree on bold stimulus targets.

Let’s cross our fingers and hope that we have something left up our sleeves. With the highest unemployment rate in 4 years its clear we definitely need something!

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Published in: on March 31, 2009 at 2:05 am  Leave a Comment  

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