Russian President Vladimir Putin has spared no expense to
get the eighth summit of the Group of Twenty (G20), which will be held in St.
Petersburg from this Thursday (09/05/2013) - unperturbed. The Constantine
Palace, where the event will be well protected from the protesters. Journalists
can only get aboard barges, the right to protest in the city has been severely
restricted and traffic on its international airport will be suspended between 4
and 6 September.
The only alterations of the established order for the
meeting shall be borne by the participants. Although the G20 is defined as an
economic forum in which foreign policy has no relevance members was Putin
himself who suggested discussing the development of the Syrian crisis and the
announcement that the United States intervene militarily in the conflict, with
or without a UN mandate. So far it is unclear whether the Russian president
will discuss the matter with his U.S. counterpart, Barack Obama.
And the "case Snowden" tangibly has cooled
relations between Washington and Moscow. It remains to be seen whether these
tensions, that cast its shadow over the appointment of St. Petersburg, will
allow members of the G20 closer positions ahead of Syrian civil war. On the
other hand, the official points of the agenda are no less flashpoints. Two of
them are experiencing turbulence emerging economies like India and Brazil, and
the need to combat tax evasion practiced by multinational corporations. In the picture, the
conference room of the Constantine Palace in St. Petersburg. In the picture,
the conference room of the Constantine Palace in St. Petersburg.
A mixture of good and
bad news
Reducing the national debt-a target set at the 2010 Toronto
summit - should be discussed, but so little progress has been made in this area
that no one has a deep discussion about it. Germany is the exception; his
austerity policy is so severe that their representatives feel the need to be
increasingly attending forums such as the G20. The most encouraging aspects of
this meeting will be the "development agenda" and the partial balance
of financial market reform.
Recalling the conclusions of the summit in South Korea three
years ago, the German chancellor, Angela Merkel, recently stressed that the
global economy could not function if they were promoting the development of
poorer countries. From what the G20 leaders can boast itself to some extent, is
of the amendments proposed in London in 2009 to better manage the financial
market. According to Martin Faust of the Frankfurt School of Finance and
Management, has been movement in this area.
"Today, banks are apertrechadas with a stronger
equity," Faust said DW, adding, though, that banks remain too big a
problem to be solved. If they face difficulties, states and taxpayers will be
forced to put his shoulder again for them. "If they acted accordingly, the
dimensions of international banks already have been reduced," says the
expert of the Frankfurt School of Finance and Management.
According to Sven Giegold, MEP for the Greens and avowed
critic of globalization as it has been promoting financial sector regulation is
well underway. However, he also warns that the dangers have not been overcome.
The good news is that banks have more capital than before, and the hedge funds
are being supervised in the name of transparency. "But the debt is still as
excessive as before. The debt bubble is still there and this can lead to
undesirable outcomes, "says Giegold. The pending reforms will give much to
talk about at the summit in St. Peters-burg.
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