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.
2008 G20 Washington summit G7 chairmanship to push for a "New Bretton Woods." He has been critical of the U.S.'s response to the global financial crisis of 2008, and has suggested that the dollar may be superseded as the base currency of the Bretton Woods system. On 20 October 2008, Tremonti told the Italian daily Corriere della Sera that proposals for a new Bretton Woods had been spread for many years by American political activist Lyndon LaRouche. The formula is "G7 plus". In announcing the summit, US President George Bush said that the summit would bring together members of the G20. The G20 was