G-20 Washington Summit

The G-20 Washington Summit on Financial Markets and the World Economy achieved general agreement among the G-20 on how to cooperate in key areas so as to strengthen economic growth, deal with the financial crisis, and lay the foundation for reform to avoid similar crises in the future. The meeting has been described by the media as Bretton Woods 2, because politicians and economists called for a new Bretton Woods system to overhaul the world’s financial structure.