The mammoth task of trying to restore some sort of new world order from its current state of global meltdown will be the task for the leaders at the G20 summit. Leaders from both sides of the Atlantic and across Europe will be eager to influence and prove to international policymakers that they have the solution to the world’s problems. Among them eager to take centre stage is our very own Gordon Brown who is to propose a ‘global new deal’ at the summit.

Early indications suggest that Brown’s plan involves the worlds leading economy’s injecting cash to boost economic demand and create a new series of international finance rules, which each country must adhere to.

In an interesting turn of events the likely partnership of Obama and Brown on the financial crisis now seems unlikely to be as fruitful as first thought. Over the last couple of weeks, Obama has openly proclaimed Britain to be America’s “Strongest Partner” in the fight on terrorism and backed our Prime Minister’s attempts to borrow money to get Britain out of the recession. In addition, Obama has drawn up his own fiscal plans to boost the US economy to the sum of $700 billion. However, the US Government has reported that they will not commit to any specific economic commitments, which will come as a blow to Brown who was looking for some bold headlines.

In fact, Brown’s plans have been met with opposition from both France and Germany as well. French President, Nicolas Sarkozy and German Chancellor Angela Merkel have aired their view that they do not see injecting more cash as the solution to the problem. They suggest that the G20 should concentrate their efforts on tightening regulation in the future to ensure there is not a repeat of the current situation.