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Barack Obama flew into Britain last night ahead of the G20 summit to face demands that world leaders make significant progress on financial regulation.Angela Merkel, the German-chancellor, and Nicolas Sarkozy, the French-president, will throw down the gauntlet today by staging a joint press conference in London demanding the G20 summit usher in a new era of global regulation of banks, executive bonuses, hedge funds andoffshore tax havens.In what will be seen as a challenge to Obama, they will also insist nobody at the summit should discuss a fresh stimulus package, despite a report from the Organisation for Economic Co-operation and Development that "world trade is now in freefall".The expected Franco-German show of solidarity will come amid frantic rounds of diplomacy, starting with a joint press conference by Gordon Brown and Obama this morning, and culminating in a state banquet at Buckingham Palace tonight.As Obama flew over the Atlantic, he phoned Brown from Air Force One and spent 15 minutes discussing differences between the G20 members and the prospects for a compromise.Robert Gibbs, the White House press secretary, addressing journalists aboard Air Force One, said: "I think the call that he had with Prime Minister Brown demonstrated that they made progress on a number of issues."Gibbs, adopting a concilatory tone, paved the way for what is likely to be a fudged compromise, a final communique vaguely addressing Obama's and Brown's wish for more government spending and Sarkozy's call for more financial regulation. He predicted "a very broad agreement on measures that have to be taken to address the global recession".Michael Froman, the White House's deputy security adviser , also took a diplomatic approach, claiming he was unaware of Sarkozy's reported threat to walk out if French demands for tougher regulation were not met.As world leaders flew into London last night, parts of the capital were being boarded up in preparation for demonstrations which leaders fear will overshadow diplomatic negotiations.Marchers will take to the streets from 11am in an attempt to bring the Square Mile to a halt, raising concerns about the potential for violence on one side, and overly aggressive policing on the other.Scotland Yard's Commander Bob Broadhurst and Chief Superintendent Ian Thomas, co-ordinating the security effort, held last-minute talks yesterday with the organisers of Climate Camp, the largest protest group. Its organisers say they plan to set up a "festival-like" camp at an undisclosed location in the City.David Howarth MP, the Liberal Democrat justice spokesman, who mediated the meeting, said "channels of communication" had opened, but added: "I still think the two sides have different views on what's proportional."Small bands of protesters are likely to attempt to occupy financial institutions and banks, many of which were boarded up this morning in preparation.Obama was greeted at Stansted last night by the chancellor, Alistair Darling, who travelled to the airport on the Stansted Express from Liverpool Street.The president was later flown aboard the Marine One helicopter to the US ambassador's residence in Winfield House, in Regent's Park. He then travelled in an armoured limousine, known as the Beast, to the American school nearby to address embassy staff. He was cheered by a crowd of about 150 lining the street.By Patrick Wintour, Ashley Seager and Paul Lewis
To read more go to:
http://www.guardian.co.uk/world/2009/apr/01/g20-summit-barack-obama-arrives
As in the days of Noah...
