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.
