Group of 20 In Wasshington DC Pledges Cooperation to Restore Growth
World leaders holding an emergency meeting to combat the economic crisis agreed yesterday to a far-reaching action plan that, over the next 4 1/2 months, would begin to reshape international financial institutions and reform worldwide regulatory and accounting rules.
Washington Post Staff Writers
Sunday, November 16, 2008; Page A01
The leaders’ 11-page statement spoke of broad principles, leaving the details to be worked out by lower-level aides before another summit meeting in April, after Barack Obama assumes the presidency. But the gathering in Washington of the nearly two dozen nations — from every region of the world — reflected the new balance of power emerging in the aftermath of a financial crisis that has devastated even well-run economies, a wrenching process that British Prime Minister Gordon Brown has dubbed “the birth pangs of this new global order.”
World leaders pose for the group photo on Saturday, Nov. 15, 2008, in Washington. President Bush invited leaders of the G-20 community to Washington for a weekend summit to discuss the world economy and the current condition of the financial markets.(AP Photo/RIA-Novosti, Vladimir Rodionov, Presidential Press Service)