While the Earth Summit takes place in Rio this week the G20 will take place in Los Cabos, Mexico. What’s on the agenda? Figuring out what to do about the Eurozone primarily.
“Everybody knows that this meeting is coming at an absolutely critical time,” said World Bank President Robert Zoellick. “We’re waiting for Europe to tell us what it is going to do. Markets can manage and hedge risks that they are generally aware of. The danger we’re creating is that the pattern of policymaking is increasing uncertainty.”
Quite simply, or maybe not so, according to the G20 web site it’s objectives include:
1. Policy coordination between its members in order to achieve global economic stability, sustainable growth;
2. To promote financial regulations that reduce risks and prevent future financial crises; and
3. To create a a new international financial architecture.
Annually there is a big push to remind G20 nations to not forget developing countries. This year, however, it’s some of the wealthiest nations in the world that are undergoing an economic crisis.
“The situation is not that we’re dealing with impoverished countries here … We’re dealing with some of the wealthiest countries in the world, which is quite different than the situation that the IMF normally deals with,” said Canadian Finance Minister Jim Flaherty to Global Television.
“The reality is that we have non-European G20 countries that have a lot of hesitation in dedicating resources to the wealthy European countries.”
Despite the Euro crisis the world’s poorest countries cannot be left off the agenda. Oxfam International says:
Oxfam International (@Oxfam) June 17, 2012
The ONE campaign says:
ONE (@ONECampaign) June 15, 2012
Thousand Days says:
Thousand Days (@ThousandDays) June 17, 2012
World Vision USA says:
World Vision USA (@WorldVisionUSA) June 13, 2012
If you would like to get involved in the G20 via social media and activism follow this thorough G20 guide provided by Oxfam America.
Victoria Marzilli (@torimarzilli) June 11, 2012
Photo: UN Photo/JC McIlwaine
Mexican Officials Brief on Upcoming G20 in Los Cabos
Roberto Marino (left), Special Representative of the Mexican Presidency for the G20, briefs journalists on preparations for the G20 Leaders’ Summit in mid-June, which will be hosted by Mexico in Los Cabos.
Next to Mr. Marino is Lourdes Aranda, Mexican Sherpa for the G20.