We expected a relatively media event and symbolic on many issues concerning the economic crisis, the need to avoid protectionism, the issue of currency and financial regulation or climate. Unfortunately, it seems difficult to discuss global trade as countries emerging represent over 40% of total exports against only 25% ten years ago. The G8 must address the question of the dollar and the role that currency in international trade. The international monetary system seems to have to evolve to rethink the macroeconomic imbalances. However, it was extremely difficult to address this issue when the vast majority of foreign reserves is held by Russia, China and oil exporting countries with almost 5 000 billion worth of

reserves. We would have liked a real advance on the need to quantify and integrate the United States in the fight against global warming. Beyond renewals on the objectives previously negotiated, it was very difficult to find consensus on an issue that greatly concerns now emerging (with an average growth of CO2 emissions by over 3% per annum in emerging cons less than 1% in Western countries). Moreover, emerging countries now account for 19 000 million tonnes of CO2, when the United States, European Union and Japan account for less than 12 000 million tonnes of CO2. On the other hand, the need to ensure harmonization of taxation, and greater financial regulation can be implemented without the consent and willingness of emerging countries. In this context, one may wonder knew the current role of G8 in a changing relations of economic and financial strength. If the G20 now seems much more legitimate (as stated Lula or even implicitly Nicolas Sarkozy) to deal with global economic trends, the G8 needs to evolve to survive and remain productive. One might then wonder about the new features of this summit. Patrick Artus, in "G8-G20: What skills? "Proposes that this forum is working to reduce the number of existing distortions in the OECD countries. This summit could be the opportunity to discuss "the difference of the nature of support plans for banks," the budget and fiscal policies, "Accounting Standards", "labor market" or "sectoral support" within the G8. Rather than addressing issues within a global dialogue for which the G20 is now adequate and qualified summit, the G8 could be the opportunity for OECD countries to move towards harmonization of monetary policies , budget, tax system to reduce the wide disparities that exist between these countries.