The most critical summit in the history of the G20
When it comes to international economic developments all eyes have turned to Cannes, where on Thursday and Friday one of the most critical G20 summits is taking place under the french presidency. The economic stagnation of the global economy, the regulatory measures to address the crisis in the eurozone, the reform of the international monetary system and the establishment of a safety net, the food crisis and the discussion of measures to boost the economy of developing countries, are the main issues in the summit's agenda.
The G20 summit is comprised of the leaders from 20 major global economies, (19 countries plus the European Union) and their respective finance ministers, along with officials from central banks and international financial institutions. In total, the G20 economies are estimated to represent at least 80% of global gross domestic product (GDP), 85% of global gross national product (GNP), 80% of the world trade and 2/3 of the world's population.