Group of20, G-20 or the Group of Twenty Finance Ministers and Central Bank Governors, is consisted of 19 of the world’s largest national economies and the European Union. What they do is to study, review, promote discussion among key industrial and emerging market countries of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization, according to wikipedia.

The G-20 was established as a response to the Asian financial crisis of the late 1990s and to a “growing recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance,” according to New York Times topic, Group of 20.

The members of the G20 are: Argentina, Australia, Brazil, Cananda, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK, US. As I said above,  EU is the 20th member, which is represented by the rotating Council presidency and the European Central Bank. 

2009 G-20 Summit held in London, the United Kingdom, from April 1 to 2. The participants are G-20, Spain, Netherlands, NEPAD, ASEAN, EU, UN, World Bank, IMF, WTO and FSF.

This year’s agenda is, according to wikipeda, 

1. Coordinated macro-economic actions to revive the global economy, stimulate growth and employment – review measures taken and possible further steps
2. Reform and improve financial sector & systems – continue to deliver progress on the Washington Summit action plan
3. Reform international financial institutions (IFIs) -IMF, FSF and World Bank 

New York Times reported the result after the summit: the leaders had committed to $1.1 trillion in additional loans and guarantees to finance trade and bail out troubled countries.

Another issue around this G-20 summit is protests prepared from about a week ago in Europe. In CNN, I found a Video on what is driving the protesters.

Yes, it’s Waste Land. Whenever it’s April, the poem by T.S. Eliot strikes my head.

“April is the crueliest month, breeding

lilacs out of dead land, mixing

memory and desire, stirring

Dull roots with spring rain.”

When I learned this poem in my class in Korea, I thought why Eliot metaphor April with cruelest month. My professor said, when April comes, earth brings new life and rejoices the renewal, while only human society is devastated and even though the spring comes, the society cannot bring a new life and hope like it does in waste land.

What do you guys think? Do you agree with him?

I was going to blog about either protestings in Europe or one of Middle East stories, but while I researching for my next blog, I stopped and thought about what today’s world is like and where it’s heading for. More and more people are struggling from the bread-and-butter issues; people are so much easily dying of the war in Middle East and of famine in poor countries.

When Eliot said April is the cruelest month, didn’t he hope to see our society breeding new life and hope?

Tomorrow, I’ll blog about either protesters’ story in London where G20 summit is going on now or story about Middle East.

Unfortunately this year several plane crashes were reported. Today I’m blogging about two recent cases. One is taken place in Montana in the United States. During the crash at least 14 people, including children, were killed. The Washington Post reported this on March 23. According to the Paper, possibly children were on the board on a ski trip and the plane crashed as it approached the Butte airport. The single engine turboprop nose-dived into a cemetery 500 feet from its destination.

To read this story, click FAA: Kids among 14 to 17 dead in MT plane crash

Another crash happened in Japan. FedEx Cargo plane crashed on landing at Tokyo on Monday while it was intending to land amid heavy winds at Narita International Airport, according to Washington Post. There were two people, a pilot and co-pilot, on board but their safety couldn’t confirmed immediately. but they were taken to a local hospital and later they were confirmed dead, according to the Paper.

To read more story, click Cargo plane crashes on landing at Tokyo airport

What’s the reason? The National Transportation Safety Board in the United States didn’t explain the cause of the crash in Montana yet, but they are investigating and I’ll blog the follow-up story as the reason reveals. As for the crash in Japan, strong wind is a possible cause of the crash, but the Japanese airport officials said it was too early to say whether the strong winds caused the crash.

Last February, deadly plane crash was reported. Buffalo plane crash killed 50 people and the cause of the crash was due to the ice buildup. I’m just adding this plane crash story. It’s from ABC News, Ice ruled out as culprit in Feb. Plane Crash.

I hope the victims are rest in peace.

The lead says, “Times are so bad here that bankers can no longer afford to waltz.” Next to the story, there is a photo and its cutline says, “The traditional Opera Ball at Vienna’s Opera House attracted hundreds of partygoers last month, but most of Austria’s financial elite were absent.”

Because of the bad economy, many financiers are not participating waltz this year. Washington Post reported that the countries where Austrian banks nearly cornered the market sought emergency aid from the IMF, International Monetary Fund.

• Foreign investors are fleeing Eastern Europe, worried that the problems could spread.
• Credit-rating agencies have warned that Austrian banks are highly exposed if Eastern European borrowers trigger a wave of defaults.
• Some analysts have questioned whether the Austrian government — which has already approved a bailout package worth $130 billion — has the resources to intervene in a worst-case scenario.
• In recent weeks, Austrian media have openly questioned whether the country could go bankrupt.

You can read more, click Banks in Austria Highly Exposed in Eastern Europe.

Even when you’re reading about the economy of far, far away country, you feel it’s happening right next you. Where the world economy is heading for?

The story reveals the forbidding environment of Ciudad Juarez, border city saying it is “where so many tortured and beheaded bodies put fear in visitors and locals alike. Those who do play for the team live in gated areas, with high walls and fences topped with razor wire, to protect them from the turf war between the drug cartels that has left nearly 2,000 people dead over the past 14 months.”

But even though in the amidst of the horrible environment, Juarez team, Indios, advanced to the top division in the Mexican League last May, and last Sunday, “the mood for a match at Olimpico Benito Juarez Stadium was one of celebration.” While the police announced there were nine bodies buried outside the city, but this event provided soccer fans and residents oasis. Here is a quote from Miguel Carbajal, president of the largest Indios fan club. “This is our escape from reality, from the violence and the bad news.”

Hmm… while I was reading this story, I imagined the city with me as one of the residents. It would be horrible to listen about how many people were found dead and unburied outside of the border. But I’m glad to hear there is something people can forget about its violence even for a couple of hours.

To read more of this story, click In Mexican Drug Wa, Soccer Remains an Oasis.

According to the Times, “archaeologists and forensic experts believe they have identified the skeleton of Cleopatra’s younger sister, murdered more than 2,000 years ago on the orders of the Egyptian queen.” Our technology is amazing that can identify who the skeleton is.

The newspaper says that there had been debates over the sister’s ethnicity– Greek, Macedonian, or North African. But the evidence after studying the dimensions of Arsinöe’s skull indicated probably of mixed race.

However, the paper says, “fellow experts are now convinced. Günther Hölbl, an authority on the Ptolemies, said the identification of the skeleton was ‘a great discovery.’”

To read more of this story, click found: the sister Cleopatra killed.

At the bottom of this story, I could find some people’s comment on this story.

Even though the event took place such a long time ago, it’s such a heartbreaking incident in that an elder sister murdered her younger sibling with her lover! The desire to power is such a strong instinct to overthrow all others. But it’s not so astonishing to see in the course of men’s history.

Olivia , Busan, South Korea

I found the power struggle fascinating. A mid-twenties woman worried that her teenage sister would try to take over as head-of-state. I have 2 daughters, 14 & 16. I can see the sibling rivavly. But not the maturity to fight for control of the whole country. They just fight over the bathroom and TV.

Tom Scott, Oviedo, FL, USA

If there was ever a circular argument! It’s Arsinoe because of north-African traits, which proves the dynasty had north-African traits. Wonderful.

Anat, Haifa, Israel

To read more of this story, click El Salvador Ex-Guerrillas win presidential election.

Who is he? I searched for wikipedia. Funes is 49 years old, fairly young president I think, and as you know he represents the left-wing FMLN political party and he was TV broadcaster. Here is a biography on him in Spanish. I cannot read, but for those who I’m link it. Click Mauricio Funes’s bio.

I could find some speculations on what would be different after the new president took office.

According to Washington Post,

A win by Funes would put another Latin American country firmly on the political left, joining the “pink tide” of governments in Brazil, Chile, Venezuela, Ecuador, Bolivia, Uruguay and Nicaragua. The question about Funes in the minds of El Salvador’s voters, according to interviews and polls, is what kind of left? Will it be the democratic, globalized, pro-business, moderate left that is friendly toward the United States, like Brazil? Or the populist, hard-line, nationalistic left that is antagonistic toward United States, like Venezuela?

To read more of this story, click El Salvador vote, big opportunity for leftists.

I was not exactly understood, so I googled and I could find Fox news that tells about how to tell a recession from a Depression.

The Great Depression lasted 43 months–from Aug. 1929 to Mar. 1933. Since then America had 13 downturns, and the longest of them were 16 months, from November of 1973 to March of 1975, and July of 1981 to November of 1982, according to Foxbusiness.com. To read more of this story, click  How to Tell a Recession from a Depression.

Related to recession, but more broadly, the International Herald Tribune reported that World Bank predicted “the global economy would shrink in 2009 for the first time since World War II on March 8. To read this, click World Bank offers dire forecast for world economy.

To read more of this story, click N. Korea holds parliamentary elections.

By noon, about 71 percents of registered voters had turned out, and last election which was in 2003 recorded a 99.9% turnout for the election. Wow!

To give you a glimpse of North Korean elections, I searched. Every five years, North Korea elects a legislature,  which is called the Supreme People’s Assembly (SPA). It was originally set to be held on Aug. 5, 2008, but it was postponed for unknown reasons, according to Wikipedia.

Seats are 687 and all candidates should be a member of the Democratic Front for the Reunification of the Fatherland, a North Korean united front led by the Workers’ Party of Korea. The Workers’ Party of Korea is the major party and the Korean Social Democratic Party and the Chondoist Chongu Party are the minor parties in North Korea.

Click here to read more about elections in North Korea.

Elections in North Korea

North Korean parliamentary election, 2009

Here is a hot story around General Motors in Germany that New York Times reported. The story reads, “One of the hottest issues in German politics right now has “Made in America” stamped on it.” But the problem is that the crisis at GM is threatening to drag down Opel, a storied German brand that GM bought 80 years ago.

Approximately 400,000 jobs will be endangered in Europe if an Opel collapses, according to Germany’s major automotive trade union, IG Metall. According to this news, German may be spin off Opel from the parent company G.M and whether German Chancellor Angela Merkel will be able to help release Opel from G.M depends on the government.  It says, “detaching Opel from G.M. and re-founding it as an independent company with a majority government stake — the demand of Opel’s employees and union — may be the only way to accomplish that, analysts said.”

To read more of this story, click Germany’s Leader in Hot Seat Over G.M. Aid Request.