The forth coming G8 SUMMIT LOGOWhat is the Summit for?
On 2 April 2009, world leaders from the G20 countries – representing 85% of the world’s output – will meet in London. They will meet against the backdrop of the worst international banking crisis in generations.
Confidence in the international banking system has fallen. Major institutions have failed. Countries around the world have entered recession, with falling trade and rising unemployment.
At the Summit, countries need to come together to enhance global coordination in order to help restore global economic growth. World leaders must make three commitments:
First, to take whatever action is necessary to stabilise financial markets and enable families and businesses to get through the recession.
Second, to reform and strengthen the global financial and economic system to restore confidence and trust.
Third, to put the global economy on track for sustainable growth. The London Summit will take place against the backdrop of exceptionally challenging economic circumstances. But, just as after the Second World War visionary leaders laid the groundwork for 30 years of prosperity and growth, built on international economic cooperation, this crisis is also an opportunity.The world’s leading economies can come together and lay the foundations not just for a sustainable economic recovery, but also for a genuinely new era of international economic partnership – a global deal, in which all countries have a part to play and all will see the benefits.
