(not that any of us on this site are dummies.... I just wanted to use a snappy title!)
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The G20 Summit is an international meeting being held this year on Thursday, April 2, in London where representatives of the world's 20 leading economies are flying in for a summit on the financial crisis.
The "20 leading economies" are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States.
The 20th member is the European Union, which is represented by the European Central Bank. Also, Spain and the Netherlands have been invited to attend this year, so, in actuality, the "G-20" is more than 20. Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade and two-thirds of the world population.
For the London Summit, the UK Treasury produced an extended agenda pamphlet proposing issues to be covered this year:
* Coordinated macro-economic actions to revive the global economy, stimulate growth and employment
* Reform and improve financial sector & systems - continue to deliver progress on the Washington Summit action plan
* Reform international financial institutions (IFIs) - International Monetary Fund (IMF), Financial Stability Forum (FSF) and World Bank
Tens of thousands of protesters are already marching across central London demanding jobs, economic justice, environmental accountability, kicking off six days of protests and action that'll run through the Summit meeting Thursday. A "Put People First" march is in progress today with 35.000 attending, marching, carrying signs.
Signs are everywhere in these protests. Signs are ubiquitous:
CAPITALISTS! You are the crisis!
We won't pay for THEIR crisis!
JUSTICE for the world's poor!
Climate Emergency!
Some protesters dressed up as businessmen with suitcases overflowing, stealing hordes of cash (Can anyone say AIG?) . Anti-globalization, anti-capitalist and environmental protests will be held throughout the week. Bankers in London's financial district have been warned to dress casually in order to avoid violent attacks. Those who can telecommute from home have been encouraged to do so. With President Barack Obama and other world leaders in town attempting to craft a coordinated response to the global financial meltdown, security measures have been estimated to cost London more than $7 million per day. There will be armed riot police. Anti-establishment leaders have been urging protesters to keep warm by "burning a banker".
The world leaders converging on London will be fed "cheap and simple meals" in keeping with the somber nature of the occasion (at the last G20 summit, held in Washington last year, then US president George W. Bush served his guests a luxurious meal that included fruitwood-smoked quail even as the global financial crisis rapidly spun out of control). Frugality is this year's buzzword. British Prime Minister Gordon Brown is said to be putting together a "goody bag" for each of the assemble guests which will contain "a tie, a candle, chocolates and a tea towel".
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The G20 Summit is an international meeting being held this year on Thursday, April 2, in London where representatives of the world's 20 leading economies are flying in for a summit on the financial crisis.
The "20 leading economies" are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States.
The 20th member is the European Union, which is represented by the European Central Bank. Also, Spain and the Netherlands have been invited to attend this year, so, in actuality, the "G-20" is more than 20. Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade and two-thirds of the world population.
For the London Summit, the UK Treasury produced an extended agenda pamphlet proposing issues to be covered this year:
* Coordinated macro-economic actions to revive the global economy, stimulate growth and employment
* Reform and improve financial sector & systems - continue to deliver progress on the Washington Summit action plan
* Reform international financial institutions (IFIs) - International Monetary Fund (IMF), Financial Stability Forum (FSF) and World Bank
Tens of thousands of protesters are already marching across central London demanding jobs, economic justice, environmental accountability, kicking off six days of protests and action that'll run through the Summit meeting Thursday. A "Put People First" march is in progress today with 35.000 attending, marching, carrying signs.
Signs are everywhere in these protests. Signs are ubiquitous:
CAPITALISTS! You are the crisis!
We won't pay for THEIR crisis!
JUSTICE for the world's poor!
Climate Emergency!
Some protesters dressed up as businessmen with suitcases overflowing, stealing hordes of cash (Can anyone say AIG?) . Anti-globalization, anti-capitalist and environmental protests will be held throughout the week. Bankers in London's financial district have been warned to dress casually in order to avoid violent attacks. Those who can telecommute from home have been encouraged to do so. With President Barack Obama and other world leaders in town attempting to craft a coordinated response to the global financial meltdown, security measures have been estimated to cost London more than $7 million per day. There will be armed riot police. Anti-establishment leaders have been urging protesters to keep warm by "burning a banker".
The world leaders converging on London will be fed "cheap and simple meals" in keeping with the somber nature of the occasion (at the last G20 summit, held in Washington last year, then US president George W. Bush served his guests a luxurious meal that included fruitwood-smoked quail even as the global financial crisis rapidly spun out of control). Frugality is this year's buzzword. British Prime Minister Gordon Brown is said to be putting together a "goody bag" for each of the assemble guests which will contain "a tie, a candle, chocolates and a tea towel".