2011 G20 Cannes summit explained

Summit Name:G20 Summit on Financial Markets and the World Economy
Sommet du G20 2011
Country:France
Venues:Palais des Festivals
Cannes, France
Follows:2010 G20 Seoul summit
Precedes:2012 G20 Los Cabos summit
Date:3–4 November 2011
Website:g20.org
Motto:Building our Common Future: Renewed Collective Action for the Benefit of All

The 2011 G20 Cannes Summit was the sixth meeting of the G20 heads of government/heads of state in a series of on-going discussions about financial markets and the world economy.[1]

The G20 forum is the avenue for the G20 economies to discuss, plan and monitor international economiccooperation.[2] While the summit achieved little progress on resolving the Eurozone crisis and providing concrete measures to addressing global financial imbalances,[3] [4] it did produce some tangible results, including the adoption of the Cannes Action Plan for Growth and Jobs, the launch of the Agricultural Market Information System (AMIS) and the endorsement of an Action Plan on Food Price Volatility and Agriculture.

Priorities

France put agriculture and food security at the heart of the G20 priorities.[5] Around this broad theme, it divided the priorities of the Summit into six areas:

  1. Reform the International Monetary System.
  2. Strengthen financial regulation, especially in non-banking financial institutions as well as regulation concerning financial market integrity and transparency.
  3. Reduce excessive commodity price volatility and enhance food security.
  4. Support employment and strengthen the social dimension of globalization.
  5. Fight corruption, for example by ensuring that the Anti-Corruption Action Plan adopted in the 2010 G20 Seoul summit will produce concrete results and real progress starting in 2011.
  6. Support infrastructure development and enhance food security in the most vulnerable countries.

Outcomes

The Summit took place in the aftermath of the 2007-08 financial crisis and in the midst of the evolving Eurozone crisis. Against this background, the outcomes of the Summit can be considered as insufficient in providing clear solutions for restoring and strengthening the global economy.

However, the Summit did result in a number of initiatives, most notably in the area of agriculture and food security. Especially the launch of the Agricultural Market Information System (AMIS) and the endorsement of an Action Plan on Food Price Volatility and Agriculture are tangible steps to addressing the world agriculture and food challenge. The G20 Summit also tasked the GEO Global Agricultural Monitoring (GEOGLAM) initiative to produce and disseminate improved forecasts of agricultural production through the use of earth observations.

Attendance

Attendance at the Cannes summit included leaders and representatives of the core members of the G20,[6] which comprises 19 countries and the European Union which is represented by its two governing bodies, the European Council and the European Commission.[7] Representatives of other nations and regional organizations were also invited to take part in the summit.

StateRepresented byTitle
Argentina[8] Cristina Fernández de KirchnerPresident
Australia[9] Julia GillardPrime Minister
Brazil[10] Dilma RousseffPresident
Canada[11] Stephen HarperPrime Minister
China[12] Hu JintaoPresident
France[13] Nicolas SarkozyPresident
Germany[14] Angela MerkelChancellor
India[15] Manmohan SinghPrime Minister
Indonesia[16] Susilo Bambang YudhoyonoPresident and the chair of ASEAN
Italy[17] Silvio BerlusconiPrime Minister
Japan[18] Yoshihiko NodaPrime Minister
Mexico[19] Felipe CalderónPresident
Russia[20] Dmitry MedvedevPresident
Saudi Arabia[21] Ibrahim Abdulaziz Al-AssafMinister of Finance
South Africa[22] Jacob ZumaPresident
South Korea[23] Lee Myung-bakPresident
Turkey[24] Recep Tayyip ErdoğanPrime Minister
United Kingdom[25] David CameronPrime Minister
United States[26] Barack ObamaPresident
European Commission[27] José Manuel Barroso
-- projected co-leader of delegation
President
European CouncilHerman Van RompuyPresident
Invited states
StateRepresented byTitle
Equatorial GuineaTeodoro Obiang Nguema Mbasogo
-- projected leader of delegation
President
Ethiopia[28] Meles Zenawi
-- projected leader of delegation
Prime Minister
SingaporeLee Hsien Loong
-- projected leader of delegation
Prime Minister
SpainJosé Luis Rodríguez Zapatero
-- projected leader of delegation
Prime Minister
United Arab EmiratesSheikh Abdullah bin Zayed Al NahyanMinister of Foreign Affairs
International organisations
OrganisationRepresented byTitle
African UnionTeodoro Obiang Nguema MbasogoChairman
Basel Committee on Banking Supervision[29] Nout Wellink
-- projected leader of delegation
Chairman
CCASGSheikh Abdullah bin Zayed Al Nahyan
-- projected leader of delegation
European Central BankMario DraghiPresident
Financial Stability BoardMark CarneyChairman
Global Governance Group (3-G)[30] Sellapan Ramanathan
-- projected leader of delegation
International Labour Organization[31] Juan Somavía
-- projected leader of delegation
Director-General
International Monetary FundChristine Lagarde[32] /Managing Director
NEPADArmando Guebuza[33]
-- projected leader of delegation
OECDJosé Ángel Gurría
-- projected leader of delegation
Secretary-General
United NationsBan Ki-moonSecretary General
World Bank GroupRobert Zoellick
-- projected leader of delegation
President
World Trade OrganizationPascal Lamy
-- projected leader of delegation
Director-General

Protests

At the summit protesters donned Robin Hood caps and demanded a tax on international financial transactions in order to provide aid to poor countries instead of catering to banking and other financial institutions.[34] They also chanted slogans in opposition to "corporate greed" and supported a counter-G20 summit, "People First, Not Finance", organised by labour unions and NGOs such as Greenpeace and Oxfam. Though police reported 5,500 were part of the protests, the organisers estimated the number of protesters at 12,000. The riot police and helicopters limited the scope of the protests to a neighbourhood in the east of Nice, which was to host the alternative summit as well as the protests. Both Cannes and Nice also tightened security, with 12,000 police personnel being deployed.[35]

See also

External links

Notes and References

  1. http://english.chosun.com/site/data/html_dir/2010/11/13/2010111300390.html "Legacies of the G20 Seoul Summit,"
  2. Parliament (UK): Townsend, Ian. "G20 & the November 2010 Seoul summit" (SN/EP/5028), 19 October 2010, retrieved 2011-04-07; excerpt, "Today, we designated the G-20 as the premier forum for our international economic cooperation" citing "Pittsburgh G20 Leaders’ summit communiqué," ¶50 September 29, 2009, retrieved 2011-04-07; excerpt, "Today, we designated the G-20 as the premier forum for our international economic cooperation. We have asked our representatives to report back at the next meeting with recommendations on how to maximize the effectiveness of our cooperation. Weagreed to have a G-20 Summit in Canada in June 2010, and in Korea in November 2010. We expect to meet annually thereafter, and will meet in France in 2011.
  3. Web site: G20 summit ends with little progress (SETimes.com) . 2011-11-05 . live . https://web.archive.org/web/20111105184631/http://setimes.com/cocoon/setimes/xhtml/en_GB/features/setimes/features/2011/11/05/feature-02 . 2011-11-05 .
  4. News: The IMF must heed G20 decisions . . Kevin Gallagher . 2010-11-29 . 2011-12-15 . London . live . https://web.archive.org/web/20140204024325/http://www.theguardian.com/commentisfree/cifamerica/2011/nov/29/imf-must-heed-g20-decisions?fb=optOut . 2014-02-04.
  5. Web site: The Cannes Summit: What Outcomes?. French Presidency of the G20. 6 June 2014. live. https://web.archive.org/web/20140606223243/http://www.g20.utoronto.ca/2011/2011-g20-france-outcomes.html. 6 June 2014.
  6. Web site: G20 Cannes Draft Program. www.g20.utoronto.ca. 2019-11-04.
  7. Rieffel, Lex. "Regional Voices in Global Governance: Looking to 2010 (Part IV)," Brookings Institution (US). 27 March 2009, retrieved 2011-04-06; "G20 members," Government of Canada, retrieved 2011-04-06.
  8. https://web.archive.org/web/20110711062155/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/argentina.131.html Argentina, G20/2011 official site
  9. https://web.archive.org/web/20110711062203/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/australia.132.html Australia, G20/2011 official site
  10. https://web.archive.org/web/20110711062320/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/brazil.133.html Brazil, G20/2011 official site
  11. https://web.archive.org/web/20110711062341/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/canada.134.html Canada, G20/2011 official site
  12. https://web.archive.org/web/20110711062350/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/china.135.html China, G20/2011 official site
  13. https://web.archive.org/web/20110711062402/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/france.138.html France, G20/2011 official site
  14. https://web.archive.org/web/20110711062440/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/germany.129.html Germany, G20/2011 official site
  15. https://web.archive.org/web/20110711062451/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/india.139.html India, G20/2011 official site
  16. https://web.archive.org/web/20110711062504/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/indonesia.140.html Indonesia, G20/2011 official site
  17. https://web.archive.org/web/20110711062524/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/italy.141.html Italy, G20/2011 official site
  18. https://web.archive.org/web/20110711062532/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/japan.142.html Japan, G20/2011 official site
  19. https://web.archive.org/web/20110711062541/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/mexico.143.html Mexico, G20/2011 official site
  20. https://web.archive.org/web/20110711062554/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/russia.145.html Russia, G20/2011 official site
  21. https://web.archive.org/web/20110711062605/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/arabia.130.html Saudi Arabia, G20/2011 official site
  22. https://web.archive.org/web/20110711062621/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/south-africa.128.html South Africa, G20/2011 official site
  23. https://web.archive.org/web/20110711062629/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/korea.136.html South Korea, G20/2011 official site
  24. https://web.archive.org/web/20110711062646/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/turkey.146.html Turkey, G20/2011 official site
  25. https://web.archive.org/web/20110711062646/http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/turkey.146.html United Kingdom, G20/2011 official site
  26. http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/united-states-of-america.137.html, G20/2011 official site
  27. http://www.g20-g8.com/g8-g20/g20/english/what-is-the-g20-/members-of-the-g20/european-union.147.html European Commission, G20/2011 official site
  28. https://web.archive.org/web/20110205055419/http://www.g20-g8.com/g8-g20/g20/english/the-2011-summit/secretariat-general-of-the-french-presidency/secretariat-general-of-the-french-presidency-of.917.html Secretariat General of the French Presidency of the G20 and G8
  29. http://www.g20.org/index.aspx G-20
  30. Jessop-Kolesnikov, Sonia. "As G-8 Meets, Asian Leaders Seek a Bigger Role," New York Times (US). 25 May 2011; excerpt, The Global Governance Group, conceptualized in April 2009 at the 2009 G20 London summit meeting, includes 28 countries: Bahamas, Bahrain, Barbados, Botswana, Brunei, Chile, Costa Rica, Guatemala, Jamaica, Kuwait, Liechtenstein, Malaysia, Monaco, Montenegro, New Zealand, Panama, Peru, Philippines, Qatar, Rwanda, San Marino, Senegal, Singapore, Slovenia, Switzerland, United Arab Emirates, Uruguay and Vietnam"; retrieved 2011-05-26
  31. G20-G8 France 2011, English>What is the G20?>Who are its members?; retrieved 13 February 2011
  32. Fontevecchia, Augustino. "IMF Appoints Lagarde To Fix A Disgraced Institution," Forbes (US). 28 June 2011.
  33. Web site: Ethiopia - Meles Zenawi quits NEPAD leadership post - PANA reports . Nazret.com . 2011-11-04 . live . https://web.archive.org/web/20110930044424/http://nazret.com/blog/index.php/2011/01/31/ethiopia-meles-zenawi-quits-nepad-leadership-post-pana-reports . 2011-09-30 .
  34. News: G20 2011: Protests Ahead Of Summit In Cannes, France (PHOTOS) . Huffingtonpost.com . 2008-11-15 . 2011-11-04 . Clare . Richardson . live . https://web.archive.org/web/20160201033613/http://www.huffingtonpost.com/2011/11/02/g20-protests-2011_n_1071613.html?ref=world . 2016-02-01 .
  35. News: Angelique Chrisafis in Nice . Anti-G20 protests confined to Nice as police seal off 'fortress Cannes' | World news . The Guardian . 1 November 2011 . 2011-11-04 . London . live . https://web.archive.org/web/20131001063916/http://www.theguardian.com/world/2011/nov/01/anti-g20-protests-confined-nice . 1 October 2013 .