Pittsburgh: A fresh start or cosmetic tinkering? The chances for a complete overhaul of the international financial markets

Heribert Dieter

No 23/2009, SWP Comments from Stiftung Wissenschaft und Politik (SWP), German Institute for International and Security Affairs

Abstract: A good year after the collapse of Lehman Brothers, the heads of state and government of the G20 meet in Pittsburgh at the end of September 2009. Amidst signs of global economic recovery - astonishingly fast in the eyes of many observers - the focus is shifting away from acute crisis management and onto long-term reform of the international financial markets. For all the resolute rhetoric, there is no decisive progress to report here. Not even this financial crisis, it would appear, is enough to bring about comprehensive reordering of international finance. Crucial questions, such as countering global imbalances, are low down the agenda for the Pittsburgh summit

Date: 2009
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