G 20 Summit and the consesus up front on tv camera

“We, the Leaders of the Group of Twenty, amid serious challenges to the world economy and financial markets. We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world’s financial systems.” – So begins the Declaration signed by the leaders of Member States of the G 20 at Summit held in November 2008 in Washington.

“We are within a few hours, I think, of agreeing a global plan for economic recovery and reform and I think the significance of this is that we are looking at every aspect” said yesterday Prime minister Gordon Brown after the meeting with President Obama.

President Obama said: “The truth is that there has been extraordinary convergence. I am absolutely confident that this meeting will reflect enormous consensus about the need to work in concert to deal with these problems.”

dinner_downingAfter a such huge consensus follow today, after the works Summit to see a new statement similar to the previous, then not happen anything notable? Or will attend a substantive change, a change that to establish a new world order? The idea isn’t new and has been circulating extensively since the first moments of crisis. So no wonder he returned in force to the attention of analysts with the G 20 Summit.

Will find world leaders viable solutions to global economic crisis? – first question for today.

Will be G 20 Summit a decisive step toward to the new world order ? – second question for today.

If analyze the results of bilateral meetings held yesterday, see that President Obama is right. There is consensus. Unfortunately, however, talk of a consensus only up front on tv camera. Backstage, the prospects are not promising. If the United States provided support Great Britain, on the other side form common front the leaders of emerging economies, China, India and obviously Russia. And the alliance between France and Germany (President Sarkozy and Chancellor Angela Merkel even had a joint press conference) could be the force that will tilt the balance of the discussions tomorrow. But, the leaders of world knows that if the summit fails to agree, it will destroy what is left of any confidence in the world’s trading centers and the consequences can be disastrous.

The result final and official of discussions will know tonight after close  Summit hosted by ExCel Arena in the heart of London.

We walk to a New World Order? Possibly. But what this mean exactly? What will be reforms in the economy and financial system? How will be implemented and who will control it ? We’ll have a new world currency or the world will separate into several economic and exchange rate blocs ? And what impact it can have for all the current world system? Here are some questions to that certainly we will find answered only over time, not tonight. But worth to reflection.


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