04-03-2009, 05:40 PM
This week,the planet's twenty biggest economies (accounting for 85% of universal GDP,that always scares me!) met in jolly old England to put their heads together after the world economy collapse.It was LONG overdue,mind you,they last met in November.Getting into the Summit,tensions were already high with the eccentric Sarkozy already threatening to leave the proceedings should the matter of tax havens not be addressed.In a surprising turn of events,consensus was quickly reached amongst the leaders with the conception of the $1.1 trillion package that will be handed over to the IMF to aid the countries in the red.Good,great but my only worry is that not all nations will have equal access to the funds.Anyhow like any meeting of rich leaders,this one was also faced with major protests,I believe a man died as well.Can anyone explain to me what exactly these protesters aim to achieve?Carrying placards around wont exactly create jobs.What I immediately noticed was how the USA was much more reserved this time around and they are giving the illusion of a democratic G20.With a new world order fast approaching,it has become impossible to marginalize the involvent of emerging markets,maybe this what lead to the Brazilian president's recent controversial comments,hopefully he isn't getting too big for his boots.I must say that I am disappointed in how members responsible for the representation of entire regions/continents (e.g. Argentina,South Africa,India) failed to do so but instead focused on national interest first but I guess thats how the cookie crumbles.All in all,I am content.Hope that we'll all be feeling the effect of the summit soon.
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