Word: summiteer
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Dates: during 2000-2009
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...measure of a summit's success is the number of participants who attempt to lay claim to its outcome. And by that measure, the G-20 summit in London was a rip-roaring sensation, with several countries seeking to share in the glory. "This is the day that the world came together to fight back against the global recession, not with words but with a plan for global recovery and for reform and with a clear timetable for its delivery," declared the summit host, British Prime Minister Gordon Brown. Speaking of the agreements reached on tighter regulation of financial markets...
...American officials tell it, the real hero of the hour, proving his mettle at his first summit, was President Barack Obama. The remaining point of disagreement, which threatened until the last minute to derail the consensus so devoutly wished for by all parties, centered on tax havens. Sarkozy was determined that a list of tax havens that refuse to provide information to foreign tax authorities on request should be published immediately by the Organization for Economic Co-operation and Development (OECD) as part of a clampdown on such havens. China, not a member of the OECD, was stalling because...
...German Chancellor Angela Merkel, who with Sarkozy had insisted on banishing any Anglo-Saxon laxity from financial regulation, also expressed satisfaction at the conclusion of the summit, which produced not only a six-point communiqué but also two detailed annexes on how a tighter regulatory regime would work. But the key to success, Merkel added at her closing press conference, would be how those measures are implemented. "That's why I'm glad we've agreed to another G-20 meeting, to check our progress," she said. A date and venue for the next meeting have not yet been...
...That's typical of the German leader's restrained approach and a salutary reminder, amid the backslapping, that the political success of the summit - the fact that leaders can go home and tell their citizens they did good - shouldn't be confused with its real, practical impact...
...what are the key points agreed on, and how will they play out? The leaders neatly skirted the biggest point of contention in the run-up to the summit: whether to boost national economic-stimulus packages. Instead, the G-20 focused on two other significant areas: the funds available to international institutions to help poor or struggling economies to withstand the crisis, and tougher global regulation of financial markets. (See pictures of the global financial crisis...