A special train with protestors headed for the G20 talks in Hamburg - Click to enlarge
Switzerland is taking part in financial talks this week among leaders of the Group of 20 economic powers, whose German host has decided that climate change, trade, health, migration and terrorism will be the priorities.
The financial aspect to the talks, one of two main “tracks” for discussions at the two-day summit, will focus on coordinated steps to stabilise the global economy, structural measures to promote growth and reform proposals for the international financial system, according to the Swiss State Secretariat for International Financial Matters, or SIF.
“The objective is to detect crises more effectively and at an earlier stage and to prevent the development of global imbalances,” said a statement by SIF. “At the same time, the international financial, economic and monetary system is to be made more stable.”
At Germany’s invitation, Swiss officials are participating, as they have done since their first time in 2013, in the financial talks. The second track at the talks will deal with all other topics, including development, international trade, social issues and corruption.
Finance ministers and central bank governors are taking part in the discussions, which also include representatives of the World Bank, the International Monetary Fund and other international financial institutions. The Swiss will be represented by Finance Minister Ueli Maurer. The first invitation to the G20 financial talks came from Russia, citing the alpine nation’s important role in the international financial system. The first Swiss delegation was led by then-finance minister Eveline Widmer-Schlumpf and Thomas Jordan, the current chairman of the Swiss National Bank.
Major tensions
Leaders from the 20 major industrialised and developing nations are meeting on Friday and Saturday in Hamburg, Germany’s second-biggest city, which has been beefing up police patrols in anticipation of a major protest by anti-globalization activists.
A throng of Swiss activists is expected to take part in the protests, which authorities say could draw tens of thousands of demonstrators. A special train was chartered to bring the Swiss activists to Hamburg, though it was not clear who had organized it – the activists, police or train officials.
Swiss newspaper Blick reported that Swiss activists took a night train from Basel to Hamburg that arrived on Thursday morning. Swiss public television SRF reported that the movement of Swiss activists was slowed by delays caused by police inspections and the movement of security forces.
German federal police tweeted a video of activists arriving in Germany. In a statement, it said the special train from Basel had 630 people on board and that the inspections were carried out in close collaboration with the Swiss border guard and cantonal police in Basel City.
Swiss participation
The spotlight will be on US President Donald Trump, who is due to meet Russian President Vladimir Putin for the first time, among the world leaders expected to arrive in Hamburg.
Switzerland has tried in the past to gain membership in the G20, since its economy is considered among the 20 biggest in the world. In 2015, the World Bank ranked the size of the Swiss economy at 19th globally, with a gross domestic product of more than $670 billion.
The World Bank in 2015 put Switzerland at second worldwide in the GDP per capita (purchasing power parity) rankings, at more than $80,000 per person, behind only Luxembourg.
But some nations, such as G20 member Brazil, have opposed Swiss membership in the international group of finance ministers and central bank governors, saying it would throw off the balance of regions that are represented.
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