The G20 Summit in London, uniting the most powerful world leaders started on Thursday morning in London with a historic agenda on the table, as leaders will attempt to find a common solution for the current global economic crisis, the most serious since 1930s.
Protests sprang out in various places downtown London, especially in front of big banks like England's Central Bank or RBS. The police arrested dozens of people and one protester died, London medical units announced.
Talks will start at 9:30 am, Romania's time and today's reunion will end at around 17:30 with an official press release summarizing the day. All G20 countries will have to confirm their commitment to do whatever they can to resolve the economic crisis and control the economy to avoid such a crisis to begin with.
Moreover, all leaders must commit to increase funds destined for international financial institutions like the IMF to help countries in need. French President Nicholas Sarkozy and German Chancellor Angela Merkel requested, a day before the official Summit, tough reforms to counter fiscal heavens and to better control financial institutions.
However, US President, Barack Obama, at his first visit in Europe as US President, will urge for a relaunch of the global economy. Americans insist that other governments should increase funds allocated to stimulate the economy.
The rest of the states hope that financial support will be increased, considering that governments allocate thousands of billions of dollars to sustain some banks.