Chavez: G20 summit a waste of time
Hugo Chavez says that G-20 summit in Washington is a waste of time, because it excluded the poor and is hosted by the people who caused the problem. "Really, I don't know what they are going to do in Washington, the host is to blame," Chavez said, referring to Saturday's meeting of the world's 20 richest countries to tackle the problems of world economy. "They are going to waste their time," Chavez said in a television speech to supporters.
Note EU-Digest: Probably not a complete waste of time. It will provide an opportunity for some of the major economic players in the world to exchange ideas, say goodbye to President Bush and to issue a positive statement. However, without the key player, President elect Obama, who is not yet sworn in as the leader of the USA, which deregulated financial system caused this whole problem in the first place, no decisions of any importance can be made. It's also interesting to see that the British PM Gordon Brown, who fought his country's participation in a common European currency and close regulatory and monetary cooperation, has now suddenly become an advocate of a more structured global financial system. In this respect, it seems that the only world leader who has come up with well thought out plan for a badly needed restructured capitalist system is Mr. Nicolas Sarkozy, the President of France, presently also holding the Presidency of the EU.
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