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I got this question – not once – but several times. What is G20?
People are talking about the up-coming event in Toronto, about the traffic issues, about all the money spent on security – but, have no clue what is this for…
First of all the G – groups are groups established at an International level to discuss and address issues that our society is facing – such as climate, economy, agriculture, engineering etc.
Different countries have joined and send a representative such as Minister(s), Head of States or a Researcher(s), to represent the country at the event. Not all the countries are members in the G groups and a country that is member of a group is not necessarily member of other groups. Usually the number following the G marks the number of members subscribed.
The Group of Twenty (G-20) was established in 1999 by the industrialized and developing countries to discuss key issues in the global economy. G 20 was created as a response to previous financial crisis – more exactly the one from 1990. Previous groups had the same purpose, but the number of participants changed depending on the issues. The actual group has as members 19 countries plus the European Union. Their representatives are Finance Ministers and Central Bank Governors. Over the years G 20 has cooperated with different other groups in order to achieve its mission.
The mandate of the G20 is to address issues related to the economic stability and to work towards a strong international financial architecture by promoting the international co-operation, new national policies and to enhance the growth and development across the globe.
The Group has not permanent staff, but every year a chair is elected from a group of countries. The representatives of G-20 members meet semi-annually at the G-20 summit.
The G-20 summits for 2010 are scheduled to be held in Toronto on June 26–27 and Seoul on November 11–12. The theme for the G20 Toronto Summit is “Recovery and New Beginnings”. 30 international delegations - around 1,500 delegates, including heads of state, will be in Toronto for the summit – this is the main reason for the importance given to security.
These events are usually accompanied also by a reticent public reaction; many meetings have faced public protest. The protests evolve around different subjects such as: local trading, workers rights, resistance to globalization.
The G 20 summit in Toronto is preceded by the G8 summit in Huntsville, Muskoka, Canada June 25 - 26, 2010. The G8 is a forum with members from wealthy countries. The meetings address issues of mutual or global concern. The topics are various- such as health and social development, law enforcement, economy and trade policies, environment, foreign affairs, justice, terrorism etc. The annual G8 leader`s summit is attended by eight of the world's most powerful heads of states.
Serious progress is expected to be made through the discussions in touching a framework for global financial regulations and economic reconstruction, in addition to the security, traffic and protests which are mostly faced by the public. The hardest part will be to translate the G-20 decisions into practical action. The G20 conclusions will not stop the economic process or dramatically change its course, but will open new gates to economic opportunities and solutions.
I got this question – not once – but several times. What is G20?
People are talking about the up-coming event in Toronto, about the traffic issues, about all the money spent on security – but, have no clue what is this for…
First of all the G – groups are groups established at an International level to discuss and address issues that our society is facing – such as climate, economy, agriculture, engineering etc.
Different countries have joined and send a representative such as Minister(s), Head of States or a Researcher(s), to represent the country at the event. Not all the countries are members in the G groups and a country that is member of a group is not necessarily member of other groups. Usually the number following the G marks the number of members subscribed.
The Group of Twenty (G-20) was established in 1999 by the industrialized and developing countries to discuss key issues in the global economy. G 20 was created as a response to previous financial crisis – more exactly the one from 1990. Previous groups had the same purpose, but the number of participants changed depending on the issues. The actual group has as members 19 countries plus the European Union. Their representatives are Finance Ministers and Central Bank Governors. Over the years G 20 has cooperated with different other groups in order to achieve its mission.
The mandate of the G20 is to address issues related to the economic stability and to work towards a strong international financial architecture by promoting the international co-operation, new national policies and to enhance the growth and development across the globe.The Group has not permanent staff, but every year a chair is elected from a group of countries. The representatives of G-20 members meet semi-annually at the G-20 summit.
The G-20 summits for 2010 are scheduled to be held in Toronto on June 26–27 and Seoul on November 11–12. The theme for the G20 Toronto Summit is “Recovery and New Beginnings”. 30 international delegations - around 1,500 delegates, including heads of state, will be in Toronto for the summit – this is the main reason for the importance given to security.
These events are usually accompanied also by a reticent public reaction; many meetings have faced public protest. The protests evolve around different subjects such as: local trading, workers rights, resistance to globalization.
The G 20 summit in Toronto is preceded by the G8 summit in Huntsville, Muskoka, Canada June 25 - 26, 2010. The G8 is a forum with members from wealthy countries. The meetings address issues of mutual or global concern. The topics are various- such as health and social development, law enforcement, economy and trade policies, environment, foreign affairs, justice, terrorism etc. The annual G8 leader`s summit is attended by eight of the world's most powerful heads of states.
Serious progress is expected to be made through the discussions in touching a framework for global financial regulations and economic reconstruction, in addition to the security, traffic and protests which are mostly faced by the public. The hardest part will be to translate the G-20 decisions into practical action. The G20 conclusions will not stop the economic process or dramatically change its course, but will open new gates to economic opportunities and solutions.
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