G20: Too many priorities

G20 should focus on crucial financial sector topics

The next G20 Summit meeting will take place in three weeks in Hamburg, Germany on 7-8 July. The G7 was expanded to the G20 in 1999, after the East Asian financial-economic crisis, but limited to finance ministers and central bank governors. Immediately after the financial sector meltdown of 2008 the G20 format was raised to the level of heads of government.

The G20 grouping of countries accounts for about three-fourths of world trade, four-fifths of global GDP and two-thirds of the world’s population. Spain is a permanent invitee. Representatives of the UN, World Bank, IMF, WTO, Financial Stability Board (FSB),