Back From the Brink: Strengthening the Group of 20 to Tackle Global Crises

March 31, 2009, 10:00am - 11:30am

As President Obama heads to London early next month for the second meeting of the G-20 nations' leaders, the pressing issue on the agenda is rescuing the global economy from the worst recession since the Great Depression. It is therefore imperative that President Obama and the G-20 leaders agree on necessary measures to stem the global crisis. The Center for American Progress believes that these measures entail restoring normal functioning of financial markets, coordinating economic stimulus measures, providing much needed assistance to developing countries, avoiding protectionism, and taking new steps to reduce greenhouse gas emissions worldwide.

But agreement alone is not enough. For this reason, the Center is calling for the G-20 leaders to establish an empowered, resourced and permanent but evolving "G-20 leadership forum" with the immediate mission to restore stability to the global economy, but with a longer term mandate to broker global deals, provide direction for multilateral organizations and cope with economic aspects of global challenges as they arise.

Please join the Center for American Progress for a discussion around these recommendations.