Monday, March 09, 2009

The G20 takes place in April "09"

NEW GLOBAL GROUP to be known as the G11 has been formed at a meeting in Berlin, Germany in an attempt to resolve economic and political differences between existing global groups.
The group will comprise the Tortoise Islands, Zimbabwe, Britain, USA, France, Italy, Germany, China, India, Russia and Australia.
The initiative was taken after the G7 and G20 groups of countries were unable to agree on united policies to counter the global Wall Street meltdown. However, another group, the G8, passed a resolution at their biennial meeting in Geneva yesterday refusing to recognise the G7, giving the rationale that they are unrepresentative of the new economic order.
This contradicts a communique issued by the powerful G12 group who have backed the G7, stating that the G20 is overweighed by too many unwieldy minor economic powers. However, (according to an advance report obtained by Loungecast) a proposed new group to be known as the G14 being formed by Sweden and Iceland is expected to oppose this. It is not yet clear what the stance of the G11 will be on these issues.

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