Some ideas from former Heads of States: Recommendations to the G20 Leaders from the Club of Madrid
G20-Finance and FSB officials to hold meetings about financial governance in South Korea
September 3, 2010 | Author Nicolas Simiand
G20 Finance and Central Bank Deputies will hold a meeting from Sept. 4 to 5 in the southwestern city of Gwangju in order to prepare the Seoul G20 Summit in November. No Communiqué should be issued after the meeting. As a Korean official explained at a press briefing: “The goal of the Gwangju meeting is not to reach agreements, but to better understand and gather stances and views held on economic issues by G20 members.” The main goal of the meeting is to prepare the G20-Finance Ministers and Central Bank Governors in Gyeongju and the G20-Summit in Seoul.
Gwangju, where the Seoul G20 Summit preparation begins
The deputies should discuss hot topics concerning global financial governance, such as the international financial institutions reform, the global financial safety net and the financial regulatory reform. Concerning the “Framework for Strong, Sustainable and Balanced Growth,“ established at the Toronto G20 Summit in June, deputies will review the progress made on the building of a comprehensive action plan.
Financial reform should be the key theme addressed at the G20-deputies meeting. Indeed, just before the G20 Deputies meeting in Gwangju, a conference on financial reform is currently hold in Seoul under the auspice of the Financial Stability Board (FSB). South Korea, the first non-G8 country hosting a world economic summit has started to prepare the Seoul Summit. The economic summits process is long, we will follow it in the next weeks.
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