The G20 was Touted as a Crucial Event in the Life of This Global Economic Crisis

[Pinalli]

This weekend’s meeting of the world’s largest economic countries, also known as the G20 was touted as a crucial event in the life of this global economic crisis. What it turned into seemed more like more of the same, say a lot but do nothing banter from the politicians that control the fate of the world. An interesting observation is that while under the grey skies of southern England, a proper an civilized country, everyone was happy to around and no one complained and it seemed as if there was productive dialogue. But behind the scenes, such as in one-on-one interviews with media, it looked like a hate-fest – more specifically an American hate-fest.

Read more at my blog...... as the article is too long. I am waiting for your comments on the same.

Take care.

[FXexpert]

Thanks for this info Pinalli.

[andy003]

Good information Pinalli.
There's another upcoming G 20 meeting in London next month.Its being seen as crucial in the face of deepening global slump.At this meeting there will probably be more emphasis on coordinating the worldwide efforts for coping with the crisis.

[FXexpert]

Hopefully the decisions made at this meeting will have positive effects on the economy.

[andy003]

Hi there everyone
I recently read that WTO Director-General Pascal Lamy has called up on world leaders to fight protectionism.He pointed out that protectionist measures counter the effect of efforts to recover from the global recession. And that such measures could threaten more job losses..
World trade is also an important agenda at the upcoming G-20 Summit on April 2 in London.

[FXexpert]

World trade is extremely important to boost the global economy.

[Pinalli]

Friends i am so surprised that President Obama denied the US Automakers, General Motors and Chrysler’s, request for additional funding after demanding the resignation of the GM Chief Executive. It was widely expected that Obama would grant their request for an additional 21 Billion Dollars, however as the G20 summit approaches, it seems as if Obama is interested in publicly denouncing his “spender” label. Obama and British Prime Minster Gordon Brown are trying to garner support for a 1.7 Trillion Dollar “Global New Deal” as their counterparts in many European and Asian countries are questioning their tendency to spend blindly on bailing out companies that are failing – termed “Zombie” companies.

The G20 meets Wednesday in London.

[andy003]

U.S., British and Japanese central banks have turned to unconventional steps to pump funds into their economies, including outright buying of government and corporate debt. ECB is expected to follow suit.

As far as the president refusing the bail out, I think its good if such sick companies are shut down altogether. At the G20 summit people are expecting the world leaders to help all rather than just a handful of non functioning automobile firms.

[Sinnerman]

It's not so much a question of "shutting them down", but allowing them to go into an orderly bankruptcy. This is the only way to get real restructuring within these companies and within the industry as a whole. Anything else is just a re-shuffling of some papers and a few scapegoats getting booted in an attempt to show that something is being done, when nothing in fact is being done.

[FXexpert]

Going bankrupt in an orderly, organized manner will help these companies restructure more quickly.