Will G-20 Counter Power of Uncertainty?

By Alexander Mirtchev 

In 2009, G-20 leaders met in Pittsburgh and emerged with a mandate ‘to be the premier forum for international economic cooperation,' endowing the G-20 with a leading economic role on the global stage. It appeared at the time that the leaders of the G-20 had successfully defeated pessimism. However, the rising tide of global economic turmoil and problems ranging from sovereign indebtedness to consumption and saving imbalances have created a ‘perfect storm' that is far from abating.

Germany's Merkel Taunts Opponents Over Euro Crisis

Chancellor Angela Merkel taunted her election opponent Tuesday over Europe's debt crisis, noting that his party had backed practically all of her rescue policies and arguing that their proposals might make things worse by pooling countries' debt.