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G20 Blog: Thoughts on the final communique

02/04/2009 17:00:00


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I've just come out of the Gordon Brown press conference. The final communique is here: London Summit – Leaders' Statement (02/04/2009).

The six actions that have been proposed are:

  1. Restore confidence, growth, and jobs;
  2. Repair the financial system to restore lending;
  3. Strengthen financial regulation to rebuild trust;
  4. Fund and reform our international financial institutions to overcome this crisis and prevent future ones;
  5. Promote global trade and investment and reject protectionism, to underpin prosperity; and
  6. Build an inclusive, green, and sustainable recovery.

I will need to reflect before saying too much, but there was talk about action on tax havens, poverty and developing a 'green economy', all of which were issues that I've heard a lot about in the last couple of days. All of the proposed actions sound good, but I'll need to rely on those with more experience to tell me whether the levels of action committed to are sufficient.

To start with, here's a statement from Oxfam:

Duncan Green, Oxfam spokesperson, said: “This G20 summit delivers a vital pick-me-up for poor countries struggling to survive the economic crisis but much more is needed to ensure their long-term recovery.

“We welcome the $1.1 trillion for global economic recovery. But we must ensure that poor countries get their fair share - that Uganda benefits as well as Ukraine. And we have deep concerns about how central the IMF has become in this crisis. The fund has been given a blank cheque but its reform remains no more than a promise.

“We hope that the old world of G8 meetings where developing countries were just invited for a photo opportunity is dead. Gordon Brown’s new world order must be one that works for 192 countries not just eight or 20.”


From Put People First, the coalition of organisations who organised Saturday's march: Put People First reaction to the London Summit. An extract:

“The G20 appears to have made progress on some critical issues but there are also missed opportunities, especially on building a green economy, and causes for real concern in other areas. G20 leaders have not yet gone far enough on the fundamental changes the world needs.

“Our campaign for jobs, justice and climate has clearly made some impact, but three big tests remain:

    * Will the G20, the UN and the Copenhagen climate conference do far more to break from the failed policies that brought about the global crisis?
    * Will governments agree a comprehensive package of policies that will deliver a new financial architecture and ensure the world emerges from the global recession as a fairer and green place?
    * Where there are positive words today, will they be turned into action tomorrow?


Tom Watson, who has been blogging with G20voice today, has this: What does the G20 Leaders’ Statement mean for developing countries?. Meanwhile Iain Dale has posted about us: Bloggers at the G20. I have replied in the comments.

OK, off to (hopefully) hear Obama.

20.42 and several press briefings later. Have gathered lots of great photos / video / thoughts, but they will have to wait as we need to go and catch our three buses home.

More to follow (perhaps).





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