Intense preparation in Paris for Brussels EU/€uro+Cannes G-20 Summits by Finance Ministers,Banks,IMF

*Paris/Elysee Palace + Quai de Bercy/Angelo Marcopolo/- Exceptionaly intensive preparations for both forthcoming crucial Economic Summits on Europe (October 23 in Brussels : €uroZone) and the World (November 3-4 in Cannes : G 20) are unfolding in Paris,  where Ministers of Economy/Finance and Central Banks  Governors from 25 Countries (20 Members and 5 "Guests"), as well as 10 Regional/International Organizations, (EU, African Union, NEPAD,  IMF, World Bank, OECD, UNDEP, etc.), are gathering today in the framework of the 2011 French EU Presidency for the G20 Summit of Heads of State/Government next month, aiming to stimulate decisive progress on efficient and comprehensive €uroZone reforms on time, while also Drafting tonight (Friday) and adopting tomorrow afternoon (Saturday) a key declaration for the Cannes G20 Summit's Agenda, where China's role is among the major questions (See infra).

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Significantly, the 2011 G20 Chairman, French President Sarkozy, (who appeared so smiling and active-looking today that he surprised even experienced Photographers), had an unscheduled working meeting with German Finance Minister Schauble, and kept his planned contact with EU Commission's President Barroso, later this afternoon, much more longer than initialy expected :

    - Barroso, indeed, exceptionally stayed with Sarkozy at Elysee Palace for more than 1 hour and 15 minutes, arriving on 5 p.m. but not leaving before 6.15 p.m., while he was initially due, on the contrary, to take part into the G20 Ministerial gathering at Quai de Bercy, where participants were officially welcomed from 5.45 to 6 p.m., starting immediately afterwards with a Reception from 6 p.m., extended to a Working Diner up until 9 p.m. : I.e. he had to miss at least 45 minites to 1 hour of G20 contacts, (where, however, participated also other EU officials, such as EU Commissioner on Economy and Finances, Oli Rehn, EU Council's President Herman Van Rompuy, etc)...

    And this, despite the Intensity of the work done today in Paris, which had already started to be prepared by Deputies Experts (Ambassadors and other Officials) since Yesterday, Thursday, October 13, from 3 to 9 p.m., and was followed, later tonight (Friday, October 14), also by an open-ended "Drafting Session", due to begin from 8 p.m.+...
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- "The most important thing is (to make) a good preparation of the Cannes' Summit" of the G20 Heads of State/Government, stressed an experienced Sarkozy's Counselor to "EuroFora", while also warning that there would rather be not much public infos on EU Commission's Head, Barroso's visit to Sarkozy later this afternoon.

Despite several Media representatives gathered at the Elysee Presidential Palace waiting for that meeting, (f.ex. USA's Associated Press, France's AFP, Reuters, Spain's EFE and Radio, "EuroFora", numerous TV broadcasters and Photographers, etc), nevertheless, a smiling but tightlipped Barroso simply saluted us, without saying anything, and jumped at his car, already late for the scheduled G20 Ministerial and Central Banks' Governors gathering at the other side of Paris, in Quai de Bercy, (and he kept his cards secret even at a short, scheduled press contact with a French TV overnight)..

+ "EuroFora" saluted  Barroso's Head of Cabinet, the experienced Johannes Laitenberger, former long-time Press Director for EU Commission, who smiled in reply while carrying heavy documents and notes in Elysee Palace, as well as serious looking while hastily leaving the longer than usual meeting, at the head of a team of various staff EU Officials.

However, parallel French sources clearly indicated that, precisely, in order to be able to focus at the beginning of November in Cannes on the present and future developments concerning specifically the G20, we should have cleared out earlier whatever might be still pending from the €uroZone issue, (as French President Sarkozy has already set as a target).

But Chinese a.o. experts reportedly downplayed the €uroZone problems, considering that they could be solved, at least partly asap, contrary to USA's own  issues, which might be even worse, deeper and socialy dangerous, as they said.

While the Yen's price looks as an issue for certain other G20 partners, on the contrary, China reportedly stands together with many EU and other (f.ex. India, Brazil, South Africa, etc) "emerging" countries concerning the wish to strengthen IMF's role in refinancing the Global Economy, particulary when recent Estimations revealed a steady but slower Growth for 2011 and 2012 than initially expected worldwide.

This problem has, notoriously, to be tackled by most Developed Countries almost at the same time with that of Sovereign Debt, while, meanwhile, fresh Data clearly show, nevertheless, Huge, erratic Capital Flows moving fast from Countries to Countries, and Money "Reserves" to steadily grow, more and more, particularly since 2001 and 2009, accumulating a Huge, mounting Buildup of Foreign Exchange Reserves, going from initialy 4% up to more than 14% in terms of Global GDP, (i.e. une augmentation of more than X 350 % )!!!...

Added to the recently extreme "Volatiliy" of Raw Materials (Energy, Food, etc) prices Worldwide, (See IMF's Head, Christine Lagarde's reply to "EuroFora"'s question at the Press Conference of the Initial 2011 G20 Finance Miisters conference last February in Paris), al this obviously boils down to a blatant need for at least some key Rules to be set up asap at Global level, (See also forthcoming NewsReports).

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Another big issue in 2011 G20 Summit is China's participation and role : 2011 G8-G20 Chairman, French President Sarkozy, had already welcomed Beijing's expected involvement and stressed earlier that "we are working very hard, in particular with a view to the G20 in Cannes", on the "questions which have emerged....for economic powers such as China" :

- "This is a Major Issue that concerns me", had stressed Sarkozy in reply to a question raised already at Deaville's G8 Summit (See "EuroFora"s NewsReports from the spot, 5/2011) by a Chinese Media representative : - "The curreht "difficulty with trade negotiations and environment negotiations...is a result of the fact that we are trying to resolve the problems of the 21st century with an organisation from the last century", he pointed out then. 

- Because "in the past century, the 20th century, there were 2 major Categories of Countries -- the countries of the North and the countries of the South, the Rich countries and the Poor countries -- and all International Negotiations were organised on the basis of this reality"

- "But things have since changed. ....in between, there is a 3rd category of countries which are the Emerging countries and that have become Major Powers; China, for example, has even surpassed Japan to become the 2bd largest Economy in the World. But we cannot say that the world's 2nd largest economy is a Poor country, in the same way that certain African countries are. But it is true that, in these countries that have become major powers, there are also large pockets of Poverty with considerable Development issues", he acknowledged, (apparently accepting a large part of what Chinese President Hu Jintao had reportedly stressed at UNO's Copenhagen Summit on Climate Change, back on 12/2009 : Comp. "EuroFora"s NewsReports from Copenhagen).

 => -"Therefore, for each of these 3 Categories of Countries, we have to find the Right words and the Right position for resolving problems. Take f.ex. the Environment : we cannot impose the same rules on India and China as we impose on ourselves. But would it be acceptable to not impose on them any rules at all? In the World Trade Organization, it is perfectly normal for us, the Industrialized countries -- as we have mentioned -- to remove all our barriers to an African country with a very high level of poverty. But should we do the same thing for economic powers such as Brazil or China, however much Friendship we may have for them? This is the Question that has emerged and on which we are working very hard, in particular with a view to the G20 in Cannes, although I have confidence in the capacity of our Chinese friends to understand this situation, and I was very pleased to be able to open a Monetary Seminar in Nankin", noted Sarkozy, who has since made 2 visits to China, as well as welcomed Chinese President Hu Jintao in France, precisely there where the 2011 G20 Summit is scheduled : at the superbe, world famous (mainly by the prestigious International Cinema Awards) city of Cannes.

    + So, during Sarkozy's latest visit to China (25/8/2011), after 2,5 Hours of exchange of views with President Hu Jintao, he "observed a large Community of views with the chinese side concerning our evaluation of the Global Economy's situation and the Need to Coordinate the Economic Policies of G20's Members, in order to undertake Initiatives to strengthen Growth in the World, in the way which is Appropriate to each one of the Economies involved".

    - "It goes without saying that, in the framework of such Initiatives, China has a 1st grade Role to play, as second Economy of the World, as the most Populated Country in the World, and as Monetary Power since Yuan's emergence", Sarkozy then underlined.