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G20 leaders gather amid security G20 leaders gather amid security
(30 minutes later)
World leaders are gathering in London to discuss ways to resolve the worst financial crisis since the 1930s.World leaders are gathering in London to discuss ways to resolve the worst financial crisis since the 1930s.
The G20 summit takes place amid tight security and police warnings of "unprecedented" levels of protest. The summit takes place amid tight security and police warnings of "unprecedented" levels of protest.
Workers in London's financial district have been told to dress down and stay home to avoid provoking demonstrators.Workers in London's financial district have been told to dress down and stay home to avoid provoking demonstrators.
President Barack Obama has arrived in London on his first visit to Europe since taking office, with hopes high that he can forge a new global deal.President Barack Obama has arrived in London on his first visit to Europe since taking office, with hopes high that he can forge a new global deal.
He will begin a round of meetings with other world leaders, including the UK Prime Minister Gordon Brown, Russian President Dmitry Medvedev, and the Chinese leader, Hu Jintao.He will begin a round of meetings with other world leaders, including the UK Prime Minister Gordon Brown, Russian President Dmitry Medvedev, and the Chinese leader, Hu Jintao.
G20 LONDON SUMMIT World leaders will meet later this week in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit.The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.G20 LONDON SUMMIT World leaders will meet later this week in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit.The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.
Detailed bargaining is expected to take place at these face-to-face meetings, although the two-day summit officially begins later when leaders from the G20, which includes the world's most powerful economies, attend a dinner reception with the Queen at Buckingham Palace.Detailed bargaining is expected to take place at these face-to-face meetings, although the two-day summit officially begins later when leaders from the G20, which includes the world's most powerful economies, attend a dinner reception with the Queen at Buckingham Palace.
But expectations that the summit will come up with a definitive plan to stimulate the world economy are receding as rifts emerge between Europe and the US and UK.But expectations that the summit will come up with a definitive plan to stimulate the world economy are receding as rifts emerge between Europe and the US and UK.
On Tuesday, the French Finance Minister Christine Lagarde said that France would walk away from the meeting if its demands for stricter financial regulation were not met.On Tuesday, the French Finance Minister Christine Lagarde said that France would walk away from the meeting if its demands for stricter financial regulation were not met.
ProtestsProtests
The G20 talks will be accompanied by tight security, with police Cdr Simon O'Brien last week warning the capital was about to see an "almost unprecedented level of activity".The G20 talks will be accompanied by tight security, with police Cdr Simon O'Brien last week warning the capital was about to see an "almost unprecedented level of activity".
Police leave during the two-day summit has been cancelled and six police forces will be involved in the £7.5m security plan.Police leave during the two-day summit has been cancelled and six police forces will be involved in the £7.5m security plan.
The protests are expected to centre on the Bank of England in the heart of the City of London.The protests are expected to centre on the Bank of England in the heart of the City of London.
Click here for a map of expected protests Click here for a map of expected protests
Some organisers have dubbed the event "Financial Fools Day" and say their protest will bring together anti-globalisation activists, environmental campaigners and others who are all demanding changes in the global economic system.Some organisers have dubbed the event "Financial Fools Day" and say their protest will bring together anti-globalisation activists, environmental campaigners and others who are all demanding changes in the global economic system.
Campaigners have been handing out leaflets bearing slogans, such as "Hang A Banker" and "Storm The Banks".Campaigners have been handing out leaflets bearing slogans, such as "Hang A Banker" and "Storm The Banks".
The summit will almost certainly fall short of the lofty ambitions set out for it Jan RandolfGlobal InsightThe summit will almost certainly fall short of the lofty ambitions set out for it Jan RandolfGlobal Insight
Police said that although the majority of protests were expected to be peaceful, they were concerned about the actions of small groups.Police said that although the majority of protests were expected to be peaceful, they were concerned about the actions of small groups.
City workers have been advised to swap business suits for casual clothing and police say people should work from home if they can.City workers have been advised to swap business suits for casual clothing and police say people should work from home if they can.
Fearing damage to their property, some businesses in the financial district have already boarded up windows.Fearing damage to their property, some businesses in the financial district have already boarded up windows.
The prime minister said that police would act quickly if protests turned violent or if property was damaged.The prime minister said that police would act quickly if protests turned violent or if property was damaged.
The warnings follow a peaceful protest march of 35,000 people through London on Saturday, during which demonstrators demanded action of poverty, climate change and jobs.The warnings follow a peaceful protest march of 35,000 people through London on Saturday, during which demonstrators demanded action of poverty, climate change and jobs.
RiftsRifts
The G20 summit will be crucial for Gordon Brown, whose reputation for economic competence has been battered by the financial crisis.The G20 summit will be crucial for Gordon Brown, whose reputation for economic competence has been battered by the financial crisis.
OFFICIAL ADVICE TO CITY FIRMS Cancel meetings No entry without ID Check ID outside buildings first Minimise entry and exits Review external smoking areas Check CCTV equipment Don't antagonise protesters Source: City of London PoliceOFFICIAL ADVICE TO CITY FIRMS Cancel meetings No entry without ID Check ID outside buildings first Minimise entry and exits Review external smoking areas Check CCTV equipment Don't antagonise protesters Source: City of London Police
He has sought to lead the drive for a global approach to the crisis and the meeting is an opportunity to restore his image as a competent economic manager.He has sought to lead the drive for a global approach to the crisis and the meeting is an opportunity to restore his image as a competent economic manager.
But it is unlikely to be smooth sailing.But it is unlikely to be smooth sailing.
Jan Randolf, an analyst at Global Insight, said the meeting would be unlikely to live up to the hype surrounding it.Jan Randolf, an analyst at Global Insight, said the meeting would be unlikely to live up to the hype surrounding it.
"The summit will almost certainly fall short of the lofty ambitions set out for it last year," Mr Randolf said."The summit will almost certainly fall short of the lofty ambitions set out for it last year," Mr Randolf said.
"There may now be stronger agreement on financial regulation, but there is a long way to go before any consensus is reached on practical reform," he added."There may now be stronger agreement on financial regulation, but there is a long way to go before any consensus is reached on practical reform," he added.
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