G-20 Wrap Up

I know I've said this before, but the pace at which things are moving politically is crazy. I need a full-time staff to keep on top of all the bills that are being introduced, debated, and voted on plus keeping track of our fearless President who is out solving the world's problems. But since you just have me, you'll have to settle for the highlights. A few days late.

So this week was the G-20. The G-20 is the simply the name for the nations with the 20 largest economies plus the European Union. The G-20 economies comprise 85% global gross national product, 80% of world trade and two-thirds of the world population.

President Obama held a press conference yesterday at the conclusion of the summit to cautiously yet optimistically tout the week's accomplishments (and a few disappointments):

• World leaders pledged $1.1 trillion in loans and guarantees to struggling countries and agreed to crack down on tax havens and hedge funds — but failed to reach sweeping accord on more stimulus spending to attack the global economic decline.
• The G-20 leaders said they would upgrade an existing financial forum to serve as an early warning monitor to flag problems in the global financial system.
• U.S. and British calls for new stimulus measures was not satisfied.
• Nor did European politicians get their goal of a global financial superregulator.
• The leaders did bridge several gaps between the United States and some European nations over how far to regulate the market and how to curb the excesses that sparked the global economic crisis.

Here are a few additional articles that you might want to read for a more in-depth analysis from ABCNews.com, Real Clear Politics, Shadow Government, and badice.com.

G-20 Wrap Up

http://politics4moms.blogspot.com/2009/04/g-20-wrap-up.html