G20 won’t be quick fix for economy: Mandelson

March 29th, 2009 - 7:39 pm ICT by IANS  

Gordon Brown London, March 29 (Xinhua) The up-coming G20 summit will not come up with any quick fix for the economy, a senior British minister has said.
As thousands prepare to protest over the financial crisis, Business Secretary Peter Mandelson insisted the success of the talks cannot be judged for at least another 12 months.

Speaking to Sky TV, Mandelson said: “When we look ahead to the summit that’s going to take place in London, they’re going to say, ‘Right, action now. Decisions today. Changes overnight.’ It’s not going to happen like that.”

It will take time for the agreements to start working, he said.

“What we’re seeing is the beginning of a process and the time to judge the outcome of the G20 summit in London is in a year’s time, when people have followed up the decisions that they will have taken.”

Trade unionists will be among huge numbers of protesters planning to take part in rallies, marches and stunts to coincide with the meeting of G20 leaders, beginning April 2.

Thousands of police officers will be on duty in central London for the run-up to the summit and officers’ leaves have been cancelled for Wednesday and Thursday.

Meanwhile, the British government has dismissed a report in a German magazine that it plans to push for G20 nations to back a 1.4 trillion pounds (about $2 trillion) global stimulus package.

Prime Minister Gordon Brown, who will host the summit, has said he expects world leaders to do “whatever it takes” to create growth and jobs when they come together.

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