The G20 and the Fine Gael Ard Fheis

4th April, 2009

The most relevant link between the G20 and the FG Ard Fheis is that getting ready for our conference has stopped me noting what happened in London. The G20 summit really was a wonderful achievement. I was struck by the sense of global leaders trying to up their game.

The specific reason for this was the achievement of African countries in getting a €34 billion package from the IMF. The allocation of €1,100 billion to IMF funding and trade finance (amongst other things) is a great
achievement. Same for movement on regulation.

And yet……….

More remains to be done. The best defence against protectionism is the completion of the Doha deal. No deadline is yet agreed. Similarly the detailed work on global banking regulation. We still must act to deal with the politically lethal issue of toxic banking assets.

Can’t believe I am writing this, but, a lot done, more to do.