President George W Bush, President Sarkozy of France, and President Barroso of the European Commission.
By Merle D. Kellerhals Jr.
Staff Writer
Washington — The leaders of 20 nations have been invited to attend an economic summit in Washington to discuss the current financial crisis, its causes and efforts to resolve it through more effective regulation and reform, the White House says.
“In addition, we expect that the leaders will discuss the effects of the crisis on emerging economies and developing nations,” White House press secretary Dana Perino said October 22. A growing concern among developed economies is what impact the current financial crisis will have long-term on developing nations and foreign financial assistance.
President Bush is inviting the members of the Group of 20 to a “Summit on Financial Markets and the World Economy” to be held in the Washington area November 15. It will be the first of a series of summits to bring together world leaders who participate in the G20 finance process to discuss current economic issues.
Bush met with French President Nicolas Sarkozy and European Commission President José Manuel Barroso in the presidential retreat at Camp David, Maryland, over the weekend of October 18 to discuss the economic crisis. Plans for the summit were developed during that meeting, Perino said.
“The summit will also provide an important opportunity for leaders to strengthen the underpinnings of capitalism by discussing how they can enhance their commitment to open, competitive economies, as well as trade and investment liberalization,” Perino said.
The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.
http://www.america.gov/st/econ-english/2008/October/20081022124842dmslahrellek0.359234.html
*
