Amid ongoing tensions, G-20 takes few concrete decisions

Cheers all round at the G-20 summit in Washington, but economic rivalries prevented any co-ordinated plan to tackle the worsening global economic crisis.

by Peter Symonds from World Socialist Web Site 17 November 2008 The G-20 summit to discuss the world financial turmoil concluded on Saturday after meeting for less than six hours in Washington. All of the leaders acknowledged the need for international cooperation amid the worst crisis since the Great Depression of the 1930s, but the joint communiqué contained little in the way of concrete measures to stabilise financial markets and reverse the rapid slide into global recession.

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See also The do-nothing summit