The G20 Summit in Cannes : Expectations Met and Failed

The paper presents an analysis of the G20 summit held under the French Presidency in Canneson November 3rd and 4th 2011. The author assesses the summit agenda and decisions made by the leaders in the key areas of coordination, including the strategy for growth and jobs, reform of the international monetary system, actions to restore financial stability and strengthen the medium-term foundations for growth, deepening of financial sector reform, fight against corruption, investing for global growth. The paper highlights the challenge of implementing two agendas: the planned and the anti crisis one. The conclusion sums up the strengths and weaknesses of the summit and the G20 summitry, reviews the features of the G20 institutionalization, makes a forecast for the sequence of presidencies after 2015, and puts forward brief recommendations for the Russian G20 presidency in 2013. The publication is prepared within the framework of a joint project of Russian International Affairs Council (RIAC) Project and International Organizations Research Institute of the NRU HSE "Increasing Effectiveness of Russia’s Participation in G8, G20 and BRICS in accordance with Russian Priorities and National Interests"