Quite interesting question peter, While searching the G-20 updates i encountered some vital information and quite interesting blog posts. I believe this week will see the leaders of the top 20 industrialized nations gather in London for the G20 (+EU) conference. Expect tepid trading until the conference begins and perhaps several volatile sessions as the leaders of the richest nations on earth try to come to some agreement on how to solve the economic crisis. The US and Great Britain, arguably the hardest hit so far, are lobbying for a 1.7 Trillion Dollar global stimulus package that is not favored by France and Germany to name a few. As the situation in England becomes worse and America’s debt grows, many leaders are questioning the affect of a severe increase in spending as it has so far done little to quell the crisis in countries that have employed this policy.
And the erratic trading on the dollar and pound have proven that there are many skeptics out there with regard to the G20 and what it will produce. Aside from some smiley pictures, a few days in cloudy London and some good old Scotch, what can these leaders say they came home with? I do not believe they will come home with much.