2009 G20 London summit London Summit and to co-ordinate their actions. The meeting was organised at the initiative of German Chancellor Angela Merkel. The leaders agreed that markets, financial institutions and the wide range of financial assets they create, and hedge funds should be subject to appropriate control. In addition, they called for effective sanctions against tax havens. They also agreed to impose sanctions against countries that intend to undermine their work. Finally, they advocated the doubling of funds available to the IMF. Finance ministers and central bankers of the G20 met in Horsham on 14 March 2009 to prepare for the London Summit.
G20 group's chair rotates annually among the members and is selected from a different regional grouping of countries. The incumbent chair establishes a temporary secretariat for the duration of its term, which coordinates the group's work and organizes its meetings. The current chair of the G20 is Argentina, which took over the chair on 1 December 2017. The 2017 chair was Germany, which hosted the 2017 Summit in Hamburg. The 2019 chair will be Japan, which will host the 2019 G20 Osaka summit. In 2010, President of France Nicolas Sarkozy proposed the establishment of a permanent G20 secretariat, similar to the