Make way for the mighty G20.

• Position: Brief Article

European policymakers concerned with the potential that the euro becomes isolated in the midst of an emerging dollar bloc (see Zoakos, p. 14) say to pay close attention to what happens at the upcoming meetings of the G20. Markets of course are quite familiar with the meetings of the so-called G7 nations but pay no attention to the little known G20 which includes members of the G7 with the addition of countries such as China, India, Brazil, Mexico, and Australia. Currently, the Germans are the chair of the G20. Interestingly, China becomes the chair effective January 1. The last meeting with Germany as chair took place in late November in Berlin, where German Finance Minister Hans Eichel presided. The meeting was so important that Federal Reserve Chairman Greenspan, the top levels of the U.S. Treasury, the Bundesbank and other...