G20 meeting credibility test for most powerful states

THE G20 meeting that began in Seoul in the early hours of this morning will be a credibility test for the world’s most powerful countries, warned European Commission President Jose Manuel Barroso.

The leaders must show they are able to move from crisis response mode to developing a structured medium term response to the macro-economic imbalances, he said.

So far, preparations for the meeting in Korea have been dominated by deep tensions over the global economy, and especially by the latest round of US quantitative easing.