G20

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

COP26 has now ended and the assessment about what it has achieved is mixed — positive for the commitments obtained, but negative because they are still not enough. The Paris Agreement's goal of limiting the rise in global temperature to 1.5ºC has not been met and it is far from certain that it will be achieved.

The outcome of the G20 meeting in Osaka last weekend of June can be seen as positive; it was a kind of restart after the failure of previous multilateral meetings, with more details and emphasis on previously discussed issues and the addition of certain new ones.

In November 2018, just before the last meeting of the G20 state leaders in Buenos Aires, the focus was placed on whether a communiqué would be issued (there was no such communiqué for the previous G7 summit) and if the meeting between the leaders of the USA and China would avoid a trade war.

The global financial crisis revealed that the banks had not got the resources sufficient to handle a recession as far-reaching as it turned out to be, of a magnitude only comparable with the Great Depression of the 1930s. To prevent anything similar from happening again, the G20 sponsored new accounting rules in creating ne…

The Annual Summit of the G20 took place on 7 and 8 July, chaired by Germany. There were no unexpected messages, although the intensity of the stress laid on international coordination and cooperation being key to improving economic growth and social wellbeing was remarkable.