Self-styled as \u201cthe premier forum for our international economic co-operation\u201d\u009d, the Group of 20\u2019s latest summit failed to live up to its central ambition to create \u201cstrong, stable and balanced\u201d\u009d global economic growth.<\/p>\n
As they arrived in Cannes, the leaders of countries representing 85 per cent of global output found the agenda dominated by political turmoil in Greece and a eurozone crisis too hot for the G20 to handle. They had little success in making progress on their medium-term goals.<\/p>\n
The G20 all but admitted that the so-called \u201cDoha round\u201d\u009d of trade talks, launched in December 2001, was dead; it produced an action plan for growth and jobs that committed countries to almost nothing they were not already pursuing; and left the international monetary system almost unchanged.<\/p>\n