Beyond the Bubble

On June 26 and 27, Toronto hosted the G-20 summit, an annual event that brings together bank officials and finance ministers from 20 of the most influential nations around the world. Though the international press decided to focus on sensationalist headlines, the leaders made much progress as they discussed commitments made at past summits and decided upon ways to improve the global economic climate.

In the weeks preceding the summit, the Canadian government was criticized for excessive spending on security and on items that would draw attention to the wonders of the Canadian landscape. Reporters berated the government for the $1 billion price tag attached to the security measures at the summit. In noting that only $18 million was spent on security costs for last year’s Pittsburg Summit, they elicited widespread disapproval for the incumbent conservative government.

Citizens were also made painfully aware of the $1.9 million that was funneled into the creation of a fake lake in the international press centre, nowhere near where the conference was being held.  This aesthetic feature was designed to create a pleasing backdrop for photos, and mimic the bodies of water present in the northern Muskoka region of Ontario. Taxpayers did not appreciate their money being spent on Adirondack chairs for the international press.

Following the event, Canadian national newspapers ran stories of police brutality, and claims made by protestors of crowd mismanagement. The international media also covered the actions of the “Black Block,” the most destructive anarchist group present at the summit.

Admittedly, the Canadian government may have been a little overzealous with both spending on security and promotional features. When one considers, however, both the importance of the protection of the actors involved and the ability for the government to reach an enormous potential audience for tourism within Canada, these actions can be put in perspective.

The real tragedy was also the failure of the international press to cover the steps made by the international community on the road to economic health. World leaders decreed in the 2010 G-20 Summit Declaration to continue to focus on, “the next steps (they) should take to ensure a full return to growth with quality jobs to reform and strengthen financial systems, and to create strong, sustainable and balanced global growth.”

More specifically, the Summit Declaration mandated that countries with  “advanced economies” would halve their deficits by 2013. Nations also committed to stabilizing or reducing debt-to-GDP ratios by 2016. According to the Tehran Times, Canadian Prime Minister Stephen Harper stated that “firm targets” had been established by the leaders at a time when the global economy is “uneven and fragile.”

This is hardly an example of a wasted summit and it is deplorable that this was not the focus of the articles that ran at the summation of the conference. Unfortunately, provocative headlines sell newspapers and entice radio listeners. The ramifications of such journalism make it increasingly difficult for national leaders to legitimately demonstrate their leadership and maintain high approval ratings. At the very least it would seem that a call for more balanced journalism is in order.