Before the G20 Summit in London, the Youth G8 was assembled in Paris its own Youth G20

It was the first time when the «G20 Summit» was held at the level of Heads of the States. And it took place November 15, 2008 in Washington. The declaration of the Summit «G20» about the financial markets and the global economic was adopted and it was decided to hold the London Summit of «G20», 1–2 April, 2009.

«The Youth G8» (eight non-governmental organizations from eight countries, specially set up for the preparation and the conduction of the public project «G8 Youth Summit») decided to assemble in Paris «Youth G20» one month before the London Summit and to think about the suggestions to the London Summit in the international financial and economic issues.

Noone expected that the young professionals will be able to think about the ideal solution to the crisis for the Heads of the States and finance ministers. Anyway the fact of the rapid response in the international financial and economic issues on the current world events of the young professionals is more important and also the initiative to meet together (20 countries) and discuss the ways to resolve the crisis and to agree of a joint communiqué.

The organizers have set a new goal — not the Eight who is getting ready for a whole year, but the Twenty and three months for the preparation (December 2008 and January, February 2009)! It was necessary to calculate the available resources and time! The format was selected: 20 delegations consisting of three members: the Head of the State, the Political Sherpa (from the Minister of the Foreign Affairs), the Economic Sherpa (from the Minister of Economy and Finance). The Partner of the Project was the European School of Management in Paris (according the ratings of the «Financial Times», it's in the top three of the high educations institutions in the staff training for the World Economy and Finance).

«G8 Youth Network» decided to form youth delegations from the countries of the «G8» in each of eight countries and to get all them to Paris. The remaining 13 delegations were decided to form with the help of the general competition among the students and the graduates of the European School of Management and other Universities, who live in Paris, but who came to the capital of France from one of those 13 countries. This solution allowed to save a considerable amount of the financial costs and to negotiate in 3 months of training.

The focus was devoted to the scientific and analytical training all of the selected delegates on the issues, which had been put on the agenda of the «Youth G20». The Advisory Council helps in this issue. There were the leading teachers of the European School of Management in Paris as well as the graduates of past years «G8 Youth Summit», the experts from the World Bank and the Ministry of Economy in France.

G20 Youth Summit was held 22- 27 February in Paris. The delegations from Japan, USA, Canada, Russia, France, Italy, UK, Germany, South Africa, Saudi Arabia, Argentina, Australia, Brazil, China, South Korea, India, Mexico, Spain, the Netherlands and the European Union, as well as UN Secretary-General, the Director of the IMF, the representative of the International Bank and a representative of the WTO took place in it.

The Russian delegation went to the opening ceremony, when the came to France, where it was met by an ENG crew of the «First Channel». As a result, the plotting of the participation of the Russian delegation in the «G20 Youth Summit» was shown.

The professional had been working for the text of the communiqué of the «Youth G20» after the opening ceremony, during 4 days. And it was set in three main blocks of the agenda:

Head of State Committee

Overall topic: The Reform of the Financial Structure of the World Economy
Divided into four specific sub-categories:

  1. Risk management
  2. Financial sustainability
  3. Moralizing capitalism and finance
  4. Towards sustainable development

Ministers of Foreign Affairs Committee

Overall topic: The Reform of Financial and Economic International Institutions
Divided into five specific sub-categories:

  1. Towards a reinforced global governance of the world economy
  2. Reform of the IMF and the World Bank
  3. Doha Round, North-South balance, and WTO functioning
  4. Reform of the UN
  5. Access to raw materials and agriculture: sustainable development

Ministers of Economy and Finance Committee

Overall topic: Relaunch plan & strategic choices: investment or consumption?
Divided into five specific sub-categories:

  1. How is it possible to coordinate solutions for the current crisis and ways of stimulating the economy?
  2. How to improve access to liquidity?
  3. Currency & Exchange rates: coordination between monetary policies
  4. Subprimes & «toxic assets»
  5. How to restore confidence in the economy?

As a result of the four-day work the Youth communiqué was developed.

A special thanks to the organizers and the participants of the «G20 Youth Summit» we would like to extend thanks to the Chairmen of three committees (the delegation of the United Kingdom), which dealt with the role of good moderators in the committees It should be noted that to negotiate and agree on the text of the communiqué in the format of Twenty is more difficult than in the format of Eight. First, the impact of cultural differences, the realities of political and economic situation in twenty countries. Secondly, it’s more difficult to agree on the text of the communiqué in the format of twenty than in the format of eight.

Communiqué of the G20 Youth Summit was transferred to the Assistant to President Mr. A. Dvorkovich as well as the Russian Foreign Ministry.

The next «Youth G20» will take place in Washington in autumn 2009. The Participants will be the young experts (20–38 years) from companies, operating in the areas of financial management, banks, investment groups and companies, working in real economy. «Youth G20» will continue to discuss the ways of the solutions of the global financial and economic crisis.

 

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