The G-20 and the crisis

Resumo

Barry Eichengreen, professor of economics and political science at the University of California at Berkeley, maintains that one of the least expected but potentially most momentous consequences of the Great Global Credit Crisis of 2008 is that the G20 has seized power from the G7 as the steering committee for the world economy. In his opinion, “whether the task is developing ideas, reaching consensus on their desirability, or moving from ideas to implementation, the G20 — which has working groups active in all these areas — is where the action is. The G7 is dead. May it rest in peace.”