• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • A Primer on the Implications of the G-20 Summit

    Yesterday, the Heritage Foundation’s Margaret Thatcher Center for Freedom hosted a panel on “The Implications of the G-20 Summit for the Political Sovereignty and Economic Freedom of the United States.” The panel, which was hosted by Dr. Ted R. Bromund and featured Dr. J.D. Foster (Heritage), Dr. Desmond Lachman (AEI), and Prof. Jeremy Rabkin (George Mason), was broadcast live by CSPAN. If you want a primer on the financial crisis and the Summit, you can watch the panel now, courtesy of CSPAN.

    The run-up to the Summit itself is now being dominated by French President Sarkozy’s headline grabbing threat to walk out unless the G-20 agrees to support supranational regulation of the world’s financial markets. As a negotiating tactic, this is feeble: threatening to leave unless everyone does what you want will only encourage them to show you the door. As a result, Sarkozy’s spokesman is wobbling painfully between promising a walk-out and denying the existence of any threat.

    Undoubtedly, Sarkozy, like a lot of other Europeans, would like more regulation, but like most French temper tantrums, this one has more to do with the politics of the EU than with the issues at stake. The essence of French policy, now as always, is not to be divided from Germany. When a German spokesman said on March 26 that there were “no points of contention here between us and the US government,” Sarkozy evidently decided he had to start making noisy demands for more regulation.

    As today’s Wall Street Journal points out, the German spokesman was exaggerating: there are, in fact, still points of contention between the U.S. and Germany, centering around whether the Summit should endorse national or supranational regulation. By demanding supranational rules, Sarkozy is seeking to re-ingratiate himself with the Germans, and to ensure that Germany does not drift any closer to the U.S. The likely impact of this on the Summit itself is limited: if France could bully its way into the deal it wanted, it would already have done so.

    Posted in International [slideshow_deploy]

    15 Responses to A Primer on the Implications of the G-20 Summit

    1. Jamey, Central Calif says:

      I hope Sarkozy remembers to wear his brown pants.

    2. Walter Dill says:

      Perhaps President Obama, should catch the next flight back to the United States and concentrate on rebuilding America, and not negotiating away the rights and securites of the American People. How about the Constitution, I assume that must be part of the Change Also.

    3. Rich, Colorado says:

      The resistance from the Europeans to more "stimulus" spending and the recent rumblings from the Chinese about an alternate reserve currency (vs. the dollar) are strong indication that other countries realize the game is up on running the US dollar printing presses. Obama's stimulus depends on the rest of the world going along and staying invested in dollars. I am disappointed to hear that the Europeans may cave on this, and really hope they stand their ground. Still this is a strong indication that the reckoning is near and they no longer buy that America is commited to its currency. The emporer has no clothes. Is the Administration and Congress listening?

    4. Joe, Pennsylvania says:

      We have been told by the standard media that Obama is a smart and intelligent guy. But so far he has proven to be no more than a empty suit. He must think he is a rock star the way he appearing on TV.

      I believe he will be handed his hat at this G20 meeting. He should spend some time studying our constitution he doesn't get the part about defending the constitution and what it stands for.

    5. Jerome Zacny says:

      How ironic. That those of us believeing in reduced government spending must now rely on the Chinese Communists to carry our message to our government.

      Well, at least Mr. Obama comes off pretty cool on Jay Leno's Tonight show, according to the March 2009 issue of Newsweek. And how about those NCAA basketball bracket picks, what a regular guy. I'll bet once we get to know Rahm Emanuel better, we will find him to be a regular guy too, just like Bob Haldeman was.

    6. Bob, Essex, Maryland says:

      It's very encouraging to see the comments from others who feel the same way I do about this administration and liberal congress. However, it's ideas and actions like setting the salary and bonus levels of CEOs, firing people like the CEO of GM, making peace offers to our enemies, and the continued decay of the standard of the Presidency (by appearing on TV shows), that makes me wonder how much time we have left as the country I grew up in. We may not have much time.

    7. Ken St Louis says:

      Well, lets see. We have a buffoon president meeting with alot of other (LEADERS) of socialist countries attending a SUMMIT ! about who the hell knows what, including all of them! Who'd a thought that America could ever have been brought down to this!

    8. Marshall Hill MI. says:

      Now the US will apologize for still being in existance after 240 Years!Someone E-mail me

      if Obama does not apologize!

    9. JOHN PHOENIX AZ. says:


    10. Eugene Hoffman, Houston, Texas says:

      It is time to realize the historical implications that this current tact of the new administration towards closer economic ties with Western Europe means to the American Citizen: it means the entrenchment of elitism, aristocracy, Kings and Queens, Dukes, and Earls, Prince’s and Princesses into our republic. Make no bones about this, it will be the end of the “Yankee Trader” and the independent entrepreneur. No longer will it matter what you know, or how hard the individual is willing to work towards his education and financial ends; it will be, WHO YOU KNOW and whose “behind” you are willing to kiss. This is the beginning of the end of creativity and the willingness to work harder than any one else for the CHANCE at reward beyond the ordinary. Karl Marx is now laughing at us because they are SELLING the idea that PROFIT is EVIL: when in reality the motivation for self interest and earned profit has provided the world with all the good things throughout the centuries. May God protect us from the true evil of the elitists and socialists.

    11. Ross, Florida says:

      The key is the congress. The Senate must ratify all treaties that the President makes. Agreements and promises are implied treaties if not teaties proper. Again the Senate must ratify. Unless we hold the congress accountable, bad things for America will continue to surface.

      The oath of allegiance to federal offices(both elected and appointed, military commissions and enlistments is in part: "…to protect and defend the constitution against all enemies both foreign and domestic…" That solemn oath I took seriously and as an officer in the military swore in many soldiers, sailors and a marine. This is including five of my six sons(of which 3 are still on active duty).

      The key is the Congress; call them, e-mail them, write letters to them, and express your outrage at what is happening. Batuimus

    12. Pingback: A Primer on the Implications of the G-20 Summit » The Foundry « Eastaustinvoice’s Weblog

    13. Jay Schatz, Cape May says:

      Memo to the Hope'n Change crowd: If you feel the US Constitution is an outdated document and should conform to winds of change in the world, there is a method to do this. It's called amendments. Until then, Those sworn to uphold the Constitution should be required to do so no matter what kind of press we get from the Europeans.

    14. Blue Dog Roseville, says:

      Obama certainly does get it. He is on record as stating that the constitution is, "generally a charter of negative liberties", and as such he simply ignores it.

    15. Tom K., from Communi says:

      To all of the previous posters,

      It appears that none of you were responsible for placing the President-Reject that is now presiding over this once great nation. If you did vote for him, shame on you and your dumb-azzed mind, which you may have lost a while ago. Thanks to those who put this 'mechanized marionette' in power, as well as the 'circus clowns' surrounding him, we may well have to resort to force to dislodge them from our republic.

      This country has fought tyranny and oppression on numerous fronts, and that would include British colonialism, the Imperialists, the Fascists, and the communists. We've fought the later examples over the globe, only to allow those types of systems to deep seat in our government, and society in general. We've been asleep at the wheel, and while we were, a band of thugs and coverts has hi-jacked our republic right from under our noses.

      Ross from Florida, your post seems to indicate that the present imbedded traitors, senate/congress, will protect us from the 'socialist sell-out' of the current President 'Media-Elect,Probably-not-even-an-American-Citizen,Muslim-Loyal' Obama, and his subvertive intentions at the G20 summit. Why would those, who don't support our troops, are constantly trampling our Constitutional rights, and subvert the will of the people, why would they 'protect and defend the Constitution, and America, from all enemies foreign and domestic??! My Brothers, "They Are" the enemies domestic, with the very real possibility that the current POTUS is a foreigner, and an enemy of our Republic at that. And if we don't awaken soon, they shall suceed in creating an America we no longer recognize.

      Please do not misunderstand me. I love my country, my fellow Americans, my freedoms and my Constitution and the accompanying Bill of Rights, and will defend it all to the death, because that is what a soldier is supposed to do, is sworn to do. But will it take America's soldiers, both former and current, to wrestle our country back from the scoundrels whom have hi-jacked it, that nest of vipers, that den of traitorous villians?? Well if so, then let it begin….and may God help us all for it having to had been necessary!!

      The next few months should be decidedly interesting, no crucial, in the path our nation is taking. We are to be vigilant, and ready to respond, should the occasion arise. Alas, those of us who remember a more safe and freer society, may have to face this head-on.

      Semper Fi!!

      One Still Patriotic

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.