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Melbourne G20 Summit a 'Security Threat'

Melbourne G20 Summit a 'Security Threat'

The Non-Government Organisation, AIDWATCH, describes the G20 summit in Melbourne 'a security threat for the world's poor and for world ecology'.

An AIDWATCH statement released today identifies G20 policies as a key threat to human and ecological security. Co-director Kate Wheen says: 'The G20 policy agenda threatens liveliood, sustainability and human security. It must be stopped.'

AIDWATCH demands an alternative agenda. It wants policies that democratise the financial policies of central banks. It calls for frameworks to end global speculation and financial volatility. It calls for regional alternatives to the International Monetary Fund. It demands policies that address the growing US deficit, which is financed by the rest of the world. It calls for financial structures that put us on the path of ecological sustainability.

Ms Wheen added: 'G20 policies put finance first, society second. We think society and the environment should come first. Finance should be serving the people, not people working for finance.'

More Information: Kate Wheen 0410470781 (02) 95578944


The G20 summit in Melbourne poses a security threat for the worlds poor and for world ecology. The G20's 'Accord for Sustainable Growth', on the table in Melbourne, imposes market rule over societies and environments. It is a recipe for global insecurity.

The G20 was set up by the G8 to be the cheersquad for the International Monetary Fund. It is a closed caucus of finance ministers and unelected bank governors dedicated to puttiing finance first, society second.

It is a conduit for policies that attack the poor, create social injustice and exacerbate global environmental crisis. Instead of addressing the key cause of global instability - US military spending and the ballooning US deficit - the G20 is pushing policies that will further expose societies to global finance flows.

Aid is on the Melbourne agenda. But symbolically it is the last item on the agenda, and will be discussed only by 'deputies'. As far as the G20 is concerned, the social consequences of global finance are the last item to consider, and do not require the full attention of finance ministers and central bank governors.

We refuse this G20 agenda.

We need alternative policies and forums that are capable of addressing the financial causes of global insecurity. AIDWATCH calls for policies that :

• dismantle the speculative casino and de-globalise financial power.

• reclaim governmental power over central banks and over finance markets.

• direct finance to serve human development and environmental sustainability.

• support local and regional monetary funds to serve local priorities

• de-link from a system that bankrolls US deficits.

Such an agenda could begin to put finance in the service of people, rather than require people to serve finance. It could begin to address poverty and environmental degradation and the causes of global insecurity.


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