Knowledge (XXG)

2009 G20 London summit

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The G20 leaders reached an agreement which, in principle, provides US$ 1.1 trillion to various programs designed to improve international finance, credit, trade, and overall economic stability and recovery. There was some dispute about how best to move forward. On one hand, the UK and the US wanted a
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The members also committed themselves to maintain the supply of credit by providing more liquidity and recapitalising the banking system, and to implement rapidly the stimulus plans. As for central bankers, they pledged to maintain low-rates policies as long as necessary. Finally, the leaders decided
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To strengthen the financial system, the participants proposed to regulate appropriately all important financial institutions, to register all hedge funds or their managers and to force them to provide appropriate information as to the risks they take. They proposed to implement regulation to prevent
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29 September 2009. Retrieved 2011-04-07; excerpt, "Today, we designated the G-20 as the premier forum for our international economic co-operation. We have asked our representatives to report back at the next meeting with recommendations on how to maximise the effectiveness of our co-operation. We
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The summit became the focus of protests from a number of disparate groups over various long standing and topical issues. These ranged from disquiet over economic policy, anger at the banking system and bankers remuneration and bonuses, the continued war on terror and concerns over climate change.
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in 1965. At a joint press conference in London, Brown and Obama said that suggestions of a rift were exaggerated. Sarkozy attended a separate press conference with Merkel in which both repeated calls for the summit to agree on more stringent regulation of financial markets and restated their firm
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Finance ministers and central bankers of the G20 met in Horsham on 14 March 2009 to prepare for the London Summit. To restore global growth as quickly as possible, the participants decided to approve coordinated and decisive actions to stimulate demand and employment. They also pledged to fight
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In June 2013, it came to light that the British government's spy agency, Government Communications Headquarters, had listened in on computer and phone communications made by foreign summit attendees. Their actions were sanctioned by the British government, and intelligence was passed to British
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One of the general agreements at the London Summit is that there needs to be more government regulations over businesses, and there was a perception that the US would no longer be as dominant as it has been previously. Commenting on the summit,
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saying "One of the messages that must come from next week's summit is that we will reject protectionist countries, we will monitor those countries and name and shame if necessary countries that are not following free trade practices".
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were supported when additional video footage became public. The IPCC then later ordered a second post mortem and an independent criminal inquiry, with the second post mortem finding that although "there is evidence of
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visited several countries on three continents to try to secure backing for his goals at the London Summit. During the trip Brown was forced to re-clarify his position on fiscal stimulus after criticism from the
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and others and general political hype regarding environmental concerns, none of the $ 1.1 trillion stimulus package was allocated for environmental investment, and no other environmental agreements were made.
1574:. The G20 leaders also agreed to establish a financial stability forum working with the IMF to ensure wider global co-operation and to provide an early-warning system for future financial crises. 2040: 1535:
The London summit was a preliminary step in the process through which the G20 evolved to become "the premier forum for discussing, planning and monitoring international economic co-operation".
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Under the present G-20 practice of inviting representatives of regional groupings, the ASEAN chair and the ASEAN secretary general participated at the London, Pittsburgh, and Toronto summits
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Leaders of the member countries began to prepare for the London Summit months before the effective date, notably with two official meetings dedicated to that preparation, one held in
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produced an extended agenda pamphlet proposing the issues to be addressed at the London Summit. The explicit goal was "to start the process of reform so as to manage
1444:(GCHQ) spied on foreign politicians visiting the summit by intercepting phonecalls, emails and monitoring computers, in some cases even ongoing after the summit via 2214: 2576: 697: 304:. They also agreed to impose sanctions against countries that intend to undermine their work. Finally, they advocated the doubling of funds available to the IMF. 2114: 333:, which amplifies cycles. They announced new measures to prevent and resolve crises, through the strengthening of the IMF and the FSF. They agreed to control 221:
Engaging concerted action to counter falling demand and fragile confidence (although different countries have different room for manoeuvre on monetary policy)
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agreed to have a G-20 Summit in Canada in June 2010, and in Korea in November 2010. We expect to meet annually thereafter, and will meet in France in 2011.
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An agreement was also reached to attempt to bring wider global regulation of hedge funds and credit-rating agencies, a common approach to cleaning up bank
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from the G20 attended, with some regional and international organisations also represented. Due to the extended membership, it has been referred to as the
2221:, 19 October 2010. Retrieved 7 April 2011; excerpt, "Today, we designated the G20 as the premier forum for our international economic cooperation" citing 2048: 475:. The story was featured heavily in the Italian media, and was used by opponents to lambast Berlusconi. After the palace reception, the leaders dined at 2073: 1819: 1686: 2747: 1844: 2332:"G20 forgets the environment – Climate breakdown, peak oil and resource depletion all dwarf the financial crisis in financial and humanitarian terms" 2870: 2387: 1505: 2142: 1793: 1343: 448:
suggested that if a meaningful deal was not agreed France would walk out of the summit echoing the "empty chair" gesture of then-French President
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In the weeks leading up to the London Summit, there had been a growing difference of opinions on the question of implementing further
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Agreeing to boost world trade and reject protectionism as a way of moving towards more stable and secure global commodities markets
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Although the majority of the protests and protestors were peaceful, instances of violence and criminal damage led to the use of
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Staatspräsident Sarkozy beim G20-Vorbereitungstreffen in Berlin: Wir müssen ehrgeizige und glaubwürdige Maßnahmen vorschlage
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member countries of the G20, the United Kingdom, Germany, France and Italy along with the two largest European non-members,
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The following participants of the London summit include the core members of the G20, which comprises 19 countries and the
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large financial stimulus. On the other hand, France and Germany wanted stricter financial regulation. Programs include:
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The influence of China was very apparent during the G20 with some commentators saying that the G20 was more like a
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The leaders agreed that markets, financial institutions and the wide range of financial assets they create, and
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Developing joint actions to prevent further contagion and support vulnerable emerging and developing markets
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Working together to address the flaws in the financial and supervisory architecture that crisis has exposed
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leaders began gathering in London on 1 April 2009. Before leaving for the London Summit, French President
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Leaders of the G20 countries present at the London Summit (taken before the proceedings on 2 April 2009).
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Gordon Brown and Dmitry Medvedev at the front door of the Prime Minister' residence on Downing Street.
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should be subject to appropriate control. In addition, they called for effective sanctions against
175: 151: 1497:, died within a police cordon of the G20 Meltdown protest near the Bank of England. Initially the 517: 346: 1946: 1099: 866: 2308: 1520:" it was "unlikely to have contributed to the cause of death" and that "the cause of death was 2476: 1561:$ 100 billion in commitments for the multilateral development banks to lend to poor countries. 1391: 1221: 940: 816: 476: 465: 457: 449: 342: 266: 1398:, was projected to cost ÂŁ7.2 million. Six police forces were used during the operation: the 1352: 1093: 507: 163: 2805: 2529: 2503: 2218: 2118: 2088: 2077: 1823: 1797: 1778: 1767: 1673: 1517: 1504:. However video, photographic and eyewitness evidence was published in the media, and the 1461: 1357: 890: 716: 445: 415: 407: 371: 330: 326: 37: 1608:, said "The U.S. is becoming less dominant while other nations are gaining influence." 1601: 1583: 1494: 1395: 1328: 1258: 1089: 1067: 1060: 1006: 766: 666: 503: 419: 411: 350: 278: 179: 2800: 2282: 1976: 2839: 2817: 2580: 1415: 1036: 966: 740: 546: 538: 530: 399: 322: 290: 214: 167: 158:
heads of government/heads of state, which was held in London on 2 April 2009 at the
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Number 10, Prime Minister's office (UK). 26 November 2008. Retrieved 7 April 2011.
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against all forms of protectionism and to maintain trade and foreign investments.
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Czech Presidency of the European Union. 23 February 2009. Retrieved 7 April 2011
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to help emerging and developing countries, through a strengthening of the IMF.
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Ian Tomlinson death: IPCC takes over inquiry from G20 protests police force
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have been used. It is the highest security expenditure in British history.
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Reaffirming our shared commitment to meet the Millennium Development Goals
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The summit proper began on the morning of 2 April and took place at the
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revealed that the intelligence agency of the British government,
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for shouting too loudly in an effort to attract the attention of
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On the evening of 1 April the leaders attended a reception at
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G20 Leaders Summit on Financial Markets and the World Economy
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strongly criticised the economic expansion policies of US
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Managing the global economy through turbulent times, p. 7
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In the weeks before the London Summit, UK Prime Minister
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GCHQ interception of foreign politicians communications
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Reuters (UK). 6 February 2009. Retrieved 7 April 2011.
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which is represented by its two governing bodies, the
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denied that any incident with the police had occurred
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and their compliance with the Code of Conduct of the
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G20 Summit on Financial Markets and the World Economy
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Managing the Global Economy Through Turbulent Times.
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International Organization of Securities Commissions
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Graphic: G20 is not simply the 20 largest economies
2436:"What the G2 must discuss now that the G20 is over" 1551:$ 250 billion in pledges to increase trade finance, 453:opposition to further financial stimulus packages. 134: 124: 74: 63: 55: 47: 30: 1692:(Australia). 1 April 2009. Retrieved 7 April 2011. 561:Host nation and leader are indicated in bold text. 234:and international financial institutions like the 386:over his spending plans. He also visited the US, 2223:"Pittsburgh G20 Leaders’ summit communiquĂ©," ¶50 2041:"G20 Summit: Jamie Oliver's Downing Street menu" 529:A working dinner at the summit – Left to right: 2307:. Greaenpeace.org. 1 April 2009. Archived from 2275:"G20 agrees $ 250 billion trade financing deal" 265:, Sussex, United Kingdom, on 14 March 2009 for 2577:Centre for International Governance Innovation 1705:MacAskill, Ewen; Davies, Nick (16 June 2013). 2612: 2112:"Thai PM warns of over-ambitious G20 summit," 8: 2866:21st-century diplomatic conferences (Global) 2861:Diplomatic conferences in the United Kingdom 2101:"How can Asia strengthen its voice at G-20?" 1812: 1810: 1808: 1806: 1700: 1698: 230:Strengthening cross-border co-ordination of 2238:BBC. 31 March 2009. Retrieved 7 April 2011. 1867:"Brown to urge G20 to fight protectionists" 1837:"Gordon Brown takes pre-G20 tour to Brazil" 1448:that had been installed during the summit. 2619: 2605: 2597: 1750:Berlin, une Ă©tape importante avant Londres 36: 27: 2135:"G20 summit: security operation launched" 217:as a force for good in the medium term." 1730: 1728: 1726: 1724: 1722: 1720: 1595:Decreased influence of the United States 1506:Independent Police Complaints Commission 1307:New Partnership for Africa's Development 552: 19:For broader coverage of this topic, see 2881:April 2009 events in the United Kingdom 2796: 2141:. London. 28 March 2009. Archived from 1843:. London. 26 March 2009. Archived from 1646: 2468:Great Britain Cabinet Office. (2008). 1869:. Agence France-Presse. Archived from 1734:Great Britain Cabinet Office. (2008). 1442:Government Communications Headquarters 1754:("An important step before London"). 7: 2249:"G20 leaders seal $ 1tn global deal" 2236:"France is threatening G20 walkout," 2012:John Hooper in Rome (6 April 2009). 1422:. Furthermore, some units from the 356: 2390:from the original on 13 April 2009 2192:from the original on 20 April 2009 2082:"core" members (G20 official site) 1977:"France and Germany united at G20" 1667:"UK to host G20 financial summit," 1493:Ian Tomlinson, a newsagent in the 357:Gordon Brown's pre-summit meetings 329:, including the limitation of the 189:The policing tactics at the event 14: 2342:from the original on 6 April 2009 2255:from the original on 3 April 2009 1983:from the original on 4 April 2009 1957:from the original on 5 April 2009 384:Member of the European Parliament 382:, France, he was challenged by a 2823: 2811: 2799: 2330:Monbiot, George (2 April 2009). 2210:Parliament (UK): Townsend, Ian. 1327: 1208: 1182: 1156: 1130: 1059: 1035: 1005: 979: 953: 929: 903: 879: 853: 829: 805: 779: 753: 729: 705: 679: 655: 629: 605: 579: 2871:2009 in international relations 2587:The G-20: A City Survival Guide 2573:Tracking the London Summit 2009 1918:Watt, Nicholas (1 April 2009). 1470:2009 G20 London summit protests 42:Official logo of the conference 2748:2020 extraordinary on COVID-19 2442:. 8 April 2009. Archived from 2281:. 2 April 2009. Archived from 593:Cristina Fernández de Kirchner 1: 2364:. Bloomberg L.P. 2 April 2009 2039:Singh, Anita (1 April 2009). 1945:Bohan, Caren (1 April 2009). 479:where the food was cooked by 1554:$ 250 billion allocation of 1196:JosĂ© Luis RodrĂ­guez Zapatero 2593:, 30 March 2009. forbes.com 2554:Radio France Internationale 1606:Goldman Sachs International 1290:International Monetary Fund 1234:International organisations 351:non-cooperative territories 240:International Monetary Fund 2902: 2080:Brookings. 27 March 2009; 1979:. BBC News. 1 April 2009. 1486: 1467: 1424:Ministry of Defence Police 139:2009 G20 Pittsburgh summit 129:2008 G20 Washington summit 18: 2583:, g20london.wordpress.com 2188:. London. 18 April 2009. 2106:. 6 July 2010; excerpt, " 1738:. Retrieved 7 April 2011. 1273:Financial Stability Forum 1239: 1232: 1117: 1110: 1057: 643:Luiz Inácio Lula da Silva 566: 555: 236:Financial Stability Forum 35: 2846:2009 in economic history 2502:16 February 2013 at the 2047:. London. Archived from 1408:British Transport Police 1390:The security operation, 1370:World Trade Organization 793:Susilo Bambang Yudhoyono 374:. While speaking at the 308:Finance ministers summit 193:, particularly over the 170:. It followed the first 70:, London, United Kingdom 2416:. London. 26 March 2009 2217:7 November 2010 at the 2117:21 October 2012 at the 1479:to contain protestors. 1460:Protesters outside the 470:United States President 398:. He strongly attacked 273:European leaders summit 191:raised some controversy 160:ExCeL Exhibition Centre 2497:G20 Information Centre 1556:special drawing rights 1489:Death of Ian Tomlinson 1483:Death of Ian Tomlinson 1465: 1295:Dominique Strauss-Kahn 917:Abdullah bin Abdulaziz 550: 522: 438: 335:credit-rating agencies 209:As hosts, the British 201:government ministers. 195:death of Ian Tomlinson 148:2009 G20 London Summit 2695:2013 Saint Petersburg 2251:. BBC. 2 April 2009. 1822:22 March 2009 at the 1539:Financial commitments 1499:City of London Police 1459: 1404:City of London Police 528: 520: 436: 2305:"G20: What a laugh!" 2124:(AGF). 2 April 2009. 2122:Agence France-Presse 2087:18 June 2010 at the 1777:18 July 2011 at the 1672:6 March 2009 at the 1582:Despite calls for a 1394:headed by Commander 1170:Jan Peter Balkenende 993:Recep Tayyip ErdoÄźan 277:Leaders of the four 232:financial regulation 2566:The Daily Telegraph 2473:London: HM Treasury 2139:The Daily Telegraph 2076:3 June 2010 at the 2045:The Daily Telegraph 1873:on 24 December 2009 1841:The Daily Telegraph 1826:, issued by the G20 1817:Official communiquĂ© 1796:22 May 2009 at the 1635:List of G20 summits 1604:, vice-chairman of 1420:Bedfordshire Police 1400:Metropolitan Police 1078:JosĂ© Manuel Barroso 1072:European Commission 512:European Commission 376:European Parliament 176:Heads of government 2099:Rana, Pradumna B. 1612:Influence of China 1466: 1410:and the forces of 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London. 1588:Greenpeace 1566:Regulation 1446:keyloggers 1362:President 746:Chancellor 617:Kevin Rudd 613:Australia 460:hosted by 429:Attendance 380:Strasbourg 345:vehicles; 302:tax havens 107:World Bank 2764:2022 Bali 2758:2021 Rome 2527:from the 2517:from the 1713:. London. 1522:abdominal 1321:Chairman 1282:Chairman 1105:President 1083:President 1052:President 972:President 946:President 896:President 872:President 798:President 788:Indonesia 722:President 698:President 693:Hu Jintao 648:President 598:President 588:Argentina 420:President 392:Argentina 2806:Politics 2777:2024 Rio 2557:, rfi.fr 2533:, ft.com 2500:Archived 2388:Archived 2340:Archived 2315:7 August 2253:Archived 2215:Archived 2196:18 April 2190:Archived 2115:Archived 2085:Archived 2074:Archived 2020:. London 1981:Archived 1955:Archived 1930:29 March 1926:. London 1851:29 March 1820:Archived 1794:Archived 1775:Archived 1670:Archived 1624:See also 1515:coronary 1477:kettling 1452:Protests 1217:Thailand 1139:Ethiopia 841:Taro Aso 737:Germany 543:Abdullah 510:and the 368:Governor 285:and the 211:Treasury 166:and the 150:was the 135:Precedes 64:Venue(s) 2792:Portals 2450:27 June 2420:27 June 2394:31 July 2368:3 April 2346:8 April 2289:3 April 2279:Reuters 2259:3 April 2149:27 June 2055:27 June 2024:27 June 1987:2 April 1961:1 April 1951:Reuters 1903:1 April 1877:1 April 1756:7 sur 7 1690:The Age 1531:Outcome 887:Russia 713:France 663:Canada 567:Member 370:of the 263:Horsham 154:of the 125:Follows 2818:London 2780:(19th) 2772:(18th) 2766:(17th) 2760:(16th) 2754:(15th) 2733:(14th) 2727:(13th) 2721:(12th) 2715:(11th) 2709:(10th) 2591:Forbes 2479:  1402:, the 1246:Title 1124:Title 1118:State 988:Turkey 862:Mexico 837:Japan 813:Italy 638:Brazil 573:Title 531:Merkel 388:Brazil 259:Berlin 205:Agenda 2741:2020s 2703:(9th) 2697:(8th) 2691:(7th) 2685:(6th) 2679:(5th) 2673:(4th) 2664:2010s 2656:(3rd) 2650:(2nd) 2644:(1st) 2635:2000s 2563:from 2551:from 2539:from 1641:Notes 1586:from 1311:NEPAD 1254:ASEAN 1191:Spain 762:India 688:China 535:Obama 412:Czech 396:Chile 283:Spain 242:(IMF) 95:ASEAN 91:NEPAD 83:Spain 2579:and 2477:ISBN 2452:2010 2422:2010 2396:2009 2370:2009 2348:2009 2317:2013 2291:2009 2261:2009 2198:2009 2151:2010 2057:2010 2026:2010 1989:2009 1963:2009 1932:2010 1905:2009 1879:2009 1853:2010 1418:and 922:King 394:and 321:the 146:The 56:Date 2519:BBC 2495:*] 1630:G20 1527:". 539:Lee 490:in 442:G20 378:in 178:or 156:G20 119:FSF 115:WTO 111:IMF 79:G20 21:G20 2842:: 2750:/ 2483:; 2475:. 2438:. 2412:. 2334:. 2277:. 2184:. 2167:, 2137:. 2110:; 2043:. 2016:. 1953:. 1949:. 1922:. 1895:. 1839:. 1805:^ 1719:^ 1709:. 1697:^ 1620:. 1618:G2 1414:, 1406:, 1313:) 1096:) 1074:) 545:, 541:, 537:, 533:, 483:. 425:. 390:, 353:. 341:; 293:. 269:. 197:. 186:. 117:, 113:, 109:, 105:, 103:UN 101:, 99:EU 97:, 93:, 89:, 85:, 81:, 2794:: 2620:e 2613:t 2606:v 2454:. 2424:. 2398:. 2372:. 2350:. 2319:. 2293:. 2263:. 2200:. 2153:. 2059:. 2028:. 1991:. 1965:. 1934:. 1907:. 1881:. 1855:. 1772:" 1768:" 1752:" 1748:" 1309:( 1092:( 1070:( 549:. 23:.

Index

G20

ExCeL London
G20
Spain
Netherlands
NEPAD
ASEAN
EU
UN
World Bank
IMF
WTO
FSF
2008 G20 Washington summit
2009 G20 Pittsburgh summit
second meeting
G20
ExCeL Exhibition Centre
financial markets
world economy
G20 Leaders Summit on Financial Markets and the World Economy
Heads of government
heads of state
raised some controversy
death of Ian Tomlinson
Treasury
globalisation
financial regulation
Financial Stability Forum

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