Global Economic Crisis: G20 Declaration Insufficient

The first meeting of G20 leaders on the world economic crisis, while setting a road map that has the potential to create a new financial regulatory agenda, has nevertheless fallen short on some major areas of concern, in particular concerning the immediate fiscal boost required to tackle the looming global crisis in employment, according to the ITUC. While the Declaration issued from the Summit recognises that coordinated international action is needed, it gives little indication of how such coordinated action is to be undertaken.