Although many of the pronouncements and actions taken by the leaders lacked specifics or details on follow-through, leaders were bold in pronouncing the gathering—the third G-20 summit in a year—as a big success. "There was unanimity around the table that the
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errors of the past won't happen again," said French President Nicolas Sarkozy. "The old system of international economic cooperation is over. The new system, as of today, has begun," said British Prime Minister Gordon Brown, referring to a decision to enhance the status for the Group of 20 to make it the lead group for dealing with future international economic issues, eclipsing the older, Western-dominated Group of Eight. "I have the impression that we are on a successful path," said German Chancellor Angela Merkel, before leaving Pittsburgh to fly back to Berlin, where she faces German voters on Sunday. They moved to require members to subject their economic policies to the scrutiny of a peer review process that would determine whether they were "collectively consistent" with sustainable global growth. They promised tighter and more coordinated financial regulation. And, repeating pledges from G-20 summits in November and April, when financial panic was rampant, they vowed anew to "reject protectionism in all its forms." They also went along with Obama's push for a pledge to withdraw government subsidies from fossil fuels such as oil, coal and natural gas linked to global warming. While issuing lofty vows, the leaders failed to define how to accomplish many of them and were quickly back to bickering over details. They did not suggest, for instance, how the peer review process would be enforced. And they failed to mention that previous pledges to avoid protectionism had been ignored by nearly all 20 members. Obama brushed off demonstrations in the city. He said they were mild compared with some in the past at international gatherings. "I fundamentally disagree with their view that the free market is the source of all ills," he said. "Many of the protests are just directed generically at capitalism. ... One of the great things about the United States is you can speak your mind."
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