Monthly Issue Update - September 30, 2009
G8 down, but not out, as G20 makes pledges on crisis
If the big headline for April’s G20 Summit (See IU April 2009) was the $1.2 trillion pledged to tackle the financial crisis, this month’s showcase was the G20 itself, as the 20 countries crowned themselves the premier fora on global finance. Next year’s G8 in Canada will in fact be preceded by a G20 meeting, which Ottawa will co-host with 2010 G20 chair Seoul. Earlier this month, Liberal opposition leader Michael Ignatieff went one step further, suggesting that the G8 not bother meeting any more, and calling for a permanent G20 secretariat in Canada.