KAIROS Briefing Paper #25: G20 Surrenders to the Money Traders
KAIROS latest Policy Briefing Paper provides an in-depth analysis of the G20 Meetings and Final Statement. The paper examines how the outcome represents a caving in to pressure from the same bond and derivative traders whose irresponsible actions caused the financial crisis in the first place. With its emphasis on deficit reduction the outcome will certainly mean added pressure on the poor and vulnerable to pay for the financial bailout of speculators. The paper concludes with a consideration of the future of both the G8 and G20 Summits and the prospects for important issues like the Financial Transfers Tax.
