March 15, 2009 12:23 PM
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 necessaryâ€, 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:Â G20′s real agenda should be saving Europe from itself
More on this topic
(What's this?)
G20 to EU: Do More!
(Wall Street Daily, 2/28/12)
G20 Meeting Fizzles
(Jutia Group, 2/27/12)
Can the G20 save the eurozone? asks Martin Wolf
(Investment Postcards from Cape Town, 10/18/11)
Saturday Crisis Update: G20 Wants to Push European Bailout Fund to $2 Trillion
(Phil’s Stock World, 2/25/12)
