More than 20 of the world’s leaders will gather at the White House tonight at the start of a two-day emergency summit on the global financial crisis that will continue in five hours of policy discussions tomorrow amid the classical splendour of Washington’s National Building Museum.
But even as participants begin to assemble in what is the largest collection of presidents and prime ministers in almost a decade, doubts remain that it would achieve anything beyond immediate moves to stimulate the world economy and an agreement to meet again.
Economists warned that hopes of a major push on creating new global regulatory systems would almost certainly be dashed. The meeting had been too hastily convened, was riven by too many internal contradictions and was too hampered by the power vacuum in Washington to achieve instant results. more