from the New York Times:

HORSHAM, England-”…top finance officials meeting here Saturday committed to take “whatever action is necessary” to revive consumer demand and regulate global markets.”

The problem is that none of them can agree on which specific action might be included in “whatever action is necessary”, so the bottome line is the G20 will do nothing except wait and hope.  It seems that we’ve heard somwhere that “hope is not a strategy”…but it also seems that’s all we get these days.

For more on this subject see Simon Johnson article:  G20′s real agenda should be saving Europe from itself