G-20 Summit // Current TV

Twittering Protesters Wind Up In Court

The attorney for one of two men arrested during last month's G-20 summit for... more

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G-20 Nations Divided over How to Fix World Economy

In the run-up to the G-20 summit in Pittsburgh, there are very few issues that all the... more

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Tarrif On Chinese Tires

President Obama announced on Friday night that he would impose a 35 percent tariff on... more

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Obama proclaims G-20 summit a 'turning point' in economic recovery

a positive step forward

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G-20 talks money

"International leaders struggled Wednesday to overcome internal fissures... more

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YouTube - Hannity, Morris Agree with Conspiracy People About New World Order

Watch and Discuss...

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President and First Lady Obama Meet with Queen Elizabeth II

President and First Lady Obama arrived at Buckingham Palace Wednesday evening for a... more

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FLASH: G20 protesters smash windows, enter Royal Bank of Scotland

(AP: THIS IS A BREAKING NEWS UPDATE. Check back soon for further information.)... more

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Knock Some Sense into Them

They’ve helped save the banks and big business. Now it’s time they helped... more

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London Gearing Up for G-20 Protests

London police said Thursday they are planning one of the largest and most complex... more

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Bush snubbed at G-20

I was wondering why the event ended an hour early... It appears in this video that... more

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Bush snubbed at G-20 summit

Nobody wants to shake hands with the playground bully.

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G-20 summit 'punts' till April

G-20 leaders have a nice dinner but do not deal with how to make financial... more

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A Lame-Duck Economic Summit

Though President George W. Bush extended the invitation, the problem is that the world... more

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Bush held the summit but, Obama will cut the deals

Pushed by President Bush, who convened the gathering (SUMMIT) at the suggestion of... more

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Europe, IMF take center stage at G-20

At the G-20 in Washington, Europe spoke with one voice, and the IMF increased its... more

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Medvedev Stated that 'Russia has no anti-Americanism"

Medvedev, in Washington to attend the global economic summit, seemed to enjoy the sparring with an audience of foreign policy elites that included former national security adviser Brent Scowcroft and former secretary of state Madeleine Albright, who led the questioning.

He seemed to back away from what was widely seen here as a brusque warning to Obama, just after the U.S. election, to not proceed with U.S. plans for a missile defense program in Europe."We will not do anything until America makes the first step," Medvedev said. "If the step is so unfortunate as it is envisaged today, we will have to act. But to my mind we have good opportunities to solve this problem . . . to agree either on a global system of protection against rogue states . . . or to find ways out in terms of programs existing already.

"I am ready to discuss it, and hopefully a new president and new administration will have a willingness to discuss this matter," he went on. "At least the first signals we got demonstrate that our partners really think about this problem and not just rubber-stamp this problem."
While there was no discussion of Russia's authoritarianism and crackdown on internal dissent in recent years, Medvedev did address a domestic issue when he spoke of his desire to more forcefully clean up corruption in his government. "Business people have to pay bribes. Bureaucrats accept bribes, and this has repercussions for the business climate," he said, promising "to act" to deal with it.

The Russian president also showed an American politician's propensity not to let certain matters drop, for fear of leaving the wrong impression. After Medvedev described Russia's position on missile defense, Albright said she appreciated the explanation, saying it appeared to be more balanced than Medvedev's Nov. 5 speech, which she said contained "elements of anti-Americanism."

The questioning moved on to a different subject, but when it came his time to answer, Medvedev indicated that he did not like Albright's assertion. "In my state of the nation address, I mentioned that Russia has no anti-Americanism, but there are some difficulties in understanding each other," he said. "We would like to overcome this with the new administration."

He said his Nov. 5 speech was not "blackmail" aimed at pressuring Obama. He explained that he had planned to give a major state of the nation speech for some time and that he had twice canceled scheduled addresses because he was unhappy with the drafts. When the speech was finally to his satisfaction, he did not recognize that the new date for delivering it was the day after the U.S. election. "There was nothing personal," he said.

Indeed, Medvedev voiced enthusiasm for working with the new administration, saying he looks forward to meeting Obama soon after the inauguration. He added that he thinks there is "a great opportunity to restore relations to the fullest extent."Medvedev, in Washington to attend the global economic summit, seemed to enjoy the... more

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G20 Summit: Summary in Quotes

Bush: "There was a common understanding by all of us that we should take pro-growth economic policies. Whatever we do, whatever reforms are recommended, we need to be guided by this simple fact - that the best way to solve the problem is economic growth, and the surest path to this grown is free-market capitalism.

These institutions have been very important - the World Bank and the IMF. But they were based on an economic order of 1944. The World Bank and the IMF should modernize their governance structure. They should consider extending voting powers and government structures... particularly to those that have increased their funding.

The temptation is in times of economic stress is to say that 'Trade is not worth it. Let's throw up economic barriers.' But that was rejected."

Mexico: "The international financial institutions must adopt a much more active role, supporting emerging and less developed countries so that the impact on economic activity and poverty is minimized."

Brazil: "We are talking about the G20 because the G8 doesn't have any more reason to exist, in other words, the emerging economies have to be taken into consideration in today's globalized world.

The existing multilateral organizations and the international rules in place were rejected by history. Both the IMF and the World Bank should open themselves to bigger participation of developing economies."

JAPAN:"We should firmly maintain the dollar-centred currency system... There is a voice questioning if it's stable for the US dollar of the world's largest debt country to continue to be a key currency, [but] no currency but the dollar can be used as a key currency."

RUSSIA:"We can see inadequate structures, which were created at that time, including security structures. That is why now we need more powerful ideas than the decades ago...

It will be necessary to rebuild the whole international financial architecture, make it open and fair, effective and legitimate, and by increasing the role of the existing ones it is necessary to create new collective structures of global co-ordination and regulation."Bush: "There was a common understanding by all of us that we should take... more

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Pakistan asks IMF for rescue loan

Pakistan has asked for a loan package from the International Monetary Fund worth at... more

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G20 Economic Summit: What do the Key Players Want?

Bush administration queasy about fiscal stimulus package but President-Elect Obama has indicated he wants $100bn of measures passed and will make it his first priority in the White House. US is opposed to any new international regulatory agency that would give foreign watchdogs influence over US companies, but they might agree to a more informal framework of talks proposed by Britain.

Britian pushing plans for financial regulators in different countries to meet three or four times a year to compare notes in order to prevent the collapse of the 30 biggest banks and financial institutions worldwide. He wants a statement of intent in which all the G20 states agree to support free trade and he hopes to establish working groups that will look at longterm changes to the role and structure of the IMF. Britain is also supporting measures that could see a worldwide agreement to coordinate stimulus packages in the same way the global interest rate cut was agreed earlier.

Most countries call for greater oversight of financial markets and of banks in the West and will demand the IMF plays a bigger role in monitoring industrial nations economies.

Russian officials have called for a new international financial architecture - an idea reiterated by Mr Medvedev during his debut state of the nation address earlier this month. They want the IMF and World Bank to hand out money to struggling nations without the Western capitalist political preconditions they sometimes impose.

USA: $700billion stimulus package to shore up banks, $290bn of which has already been spent. Cut interest rates to 1 per cent.

Britain: Cut interest rate to 3 per cent. A £15billion package including tax cuts plus £50billion to shore up the banking industry.

France: Mr Sarkozy was instrumental in winning a Europe-wide interest rate cut and EU coordination of monetary policy to support the fiscal changes. But he has been rebuffed by Britain and Germany on attempts to set up a common tax policy.

Germany: Announced $23billion euro stimulus package, including money for roads, tax breaks on car purchases and loans to small and medium-sized businesses.

China: Announced fiscal stimulus package worth $586 billion to be spent on infrastructure and social welfare. People's Bank of China cut interest rates to 6.66 per cent.

India: Cut main short term lending rate from 8 per cent to 7.5 per cent.

Russia: Raised refinancing interest rate from 11 per cent to 12 per cent to slow capital flight from Russia and counter inflation.

Japan: Announced fiscal stimulus package worth $275billion, including credits and loans to help small businesses. Cut interest rates from 0.5 per cent to 0.3 per cent.

Saudi Arabia: 70 per cent of the foreign reserves of Saudi Arabia 's central bank are in US government bonds and they have provided support and confidence to the US economy and the dollar.Bush administration queasy about fiscal stimulus package but President-Elect Obama has... more

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