According to the G20 website “the Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy."
In early November, at the end of the last summit in Cannes, France, Mexican President Felipe Calderon warned about the need to tackle the Eurozone debt crisis that ever since has just gotten worst.
According to Univision, Mr. Calderon said that “there are countries that have a problem with solvency, as is clearly the case of Greece, …[but] there are countries that have problems with liquidity or at least countries that have no problem of liquidity nor solvency, but which have problems with credibility ... as in the case of Spain or Italy."
During its tenure as the Chair of the G20, Mexico will try to contain the Eurozone debt crisis and try to avoid the spreading of protectionist practices that would affect world commerce.
The G20 summit of next year is crucial as the world is heading to a new recession, and Los Cabos has been selected as the host of this important meeting taking place on June 18, 19, 2012.
The government will construct a new, 653,400-square-foot convention center designated as a “green” facility, equipped with solar panels and built with energy efficiency in mind. As President Calderon considers climate change a major priority of international negotiations and is trying to lead by example. “We need to fix at the same time the financial crisis and the environmental crisis.” said Calderon at the Cannes conference, according with the Guadalajara Reporter.
