G20 - all talk but no action?
Yet again we have another G20 meeting and yet more promise of multitrillion pound investment packages which will save the world. However, why is it that after the event more and more G20 members seem to have second thoughts about their promises and often backtrack?
It seems that a G20 conference is one of those moments when your friend asks you for money and you say yes, only to return home and find out the cupboard is bare and you have no money to lend. Time and time again G20 meetings have ended with promises to change the world, right all wrongs only for these promises to slowly but surely unwind and disappear into the mist. So what's different this time?
In truth there is nothing which is different this time because ultimately former promises have not yet been met and new promises have still been made. Why the G20 do not concentrate on following through on earlier promises before making new promises is a mystery to everybody. However, there does seem to be an addiction to headline grabbing promises to justify the massive expense which a G20 conference attracts while ultimately once the headlines have been grabbed there is very little in the way of substance behind them.
Share this..
Related stories
Online retailers predict £400 million Mad Monday
Today is officially the first day of Christmas for UK retailers with online retailers especially confident that this Christmas will mark a turning point in the online arena. Online retailers are expecting a £400 million surge today as consumers look to bag the best bargains ahead of the festive period with seemingly more offers and promotions available online than ever before. While there is n...
Read MoreIMF changes opinion on UK economy
The International Monetary Fund (IMF) has today issued a change in opinion with regards to the UK economy with a suggestion that recovery will happen sooner than previously expected. While the IMF is of the opinion that GDP (gross domestic product) will fall by a worse than expected 4.2% in 2009 (against a former estimate of 4.1%) the news in relation to the economy as a whole is much more upbeat....
Read MoreGeorge Osbourne calls for FSA to block excessive bonuses and remuneration
Shadow Chancellor of the Exchequer George Osborne today called for the Financial Services Authority (FSA) to become instrumental in the blocking of large remuneration and bonus packages for UK banks. On a BBC current affairs programme he questioned the right of all UK banks, which have all benefited to some extent from taxpayer investment into the sector, to effectively use taxpayer funding to pay...
Read MoreNational Savings and Investments set to shake up savings market
The National Savings and Investment body has launched a one-year 3.95% fixed-rate savings bond which has caught the attention of consumers and savers in the UK. This is significantly higher than the vast majority of savings accounts and savings bonds offered in the wider market and will no doubt put significant pressure upon other companies in the UK to follow suit. However, there may well be othe...
Read MoreChristmas set to boost UK economy
The festive season could help to shore up the UK economy this year after a rocky few months, it has been claimed.According to Richard Dodd, head of media and campaigns for the British Retail Consortium (BRC), Christmas is arriving at just the right time to help perk up the slowing economy and boost retailers so as to help the overall economy.It has been suggested that this year Christmas will be w...
Read More