Everything is preparing for the G.20 awaited Summit to be held in Washington, D.C. from November 15, as it is well known and has been commented, the Summit has been organized by George W. Bush, Chairman of the Republican party, whose Government is accused of having encouraged financial deregulation. His successor, Democrat Barack Obama, will assume his duties on 20 January and will not be present at the Summit.The American position is not clear and no decision of Bush must undertake in any way at Obama, he told AFP Ralph Bryant, researcher at the Brookings Institution.El G20 concentrates two-thirds of its population and 85% of the wealth of the planet. The group brings together seven advanced economies (Germany, Canada, United States, France, Britain, Italy and Japan), the European Union (EU) and the major emerging countries (Saudi Arabia, Argentina, Australia, Brazil, China, South Korea, India, Indonesia, Mexico, Russia and Turkey). With special character Spain will be represented at the Washington Summit. Take into account, that the Summit has no goal to move towards a single regulator of markets; There are not many argue that position, says Francoise Kadri, Europeans, with France at the helm, wanted the Summit to give the initial push to a comprehensive reform of the financial system, a second Bretton Woods, name of the agreements that govern the global economy since the end of World War II.
Americans and Europeans recognize the need for improvement of financial transparency, management of risks, coordination between national regulators and a majority harmony accounting rules and capitalization of the banks. The Bush administration, initially reluctant about the Organization of the Summit, believed that an action plan will be adopted in Washington. According to a responsible American high, there is a space of agreement for all financial products and institutions of the sector are regulated in an appropriate way so that nobody can escape the control.