Related Posts: G-20
November 2, 2011
Cannes, a medieval city on the French Riviera internationally renowned for its luxurious hotels, seafront “promenade,” and International Film Festival, is used to welcoming the rich and famous. It is, however, another type of festival that will take place in Cannes this week. The city is gearing up for the sixth annual Group of Twenty (G-20) Summit where heads of state, finance ministers, and Central Bank governors from 20 industrialized and developing economies (19 countries plus the European Union) will converge to discuss financial markets and the world economy. The G-20, whose member countries account for over 80 percent of the global output and two-thirds of the world’s population, is the premier forum for industrialized and developing countries to discuss key issues in the global economy and monitor international economic cooperation.