Skip navigation

Current DateTime: 09:21:20 27 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 09:21:20 27 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 09:21:20 27 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
By: Steve Sedgwick, CNBC Presenter | 07 Jul 2009 | 10:05 AM ET
Text Size

Thank you Silvio Berlusconi. No, really, thank you.

Stephen Sedgwick's Bio

Stephen Sedgwick
CNBC Anchor

You have managed to do what no world leader in years has done. You single-handedly have given the G8 press-pack such a wealth of rich headlines that regardless of what actually goes on at the summit in the earthquake-ravaged town of L’Aquila, we’ll be talking about this one for years.

It makes such a change not to be talking up the pre-summit agenda, which usually writes itself these days. You kind of knew already that reviving the economy, markets oversight, dollar imbalances, exit strategies, climate change and poor nation relief were going to be penciled in high on the summit talking points. That much most intelligent punters could have worked out for themselves.

But here in central Italy journalists have been jumping over themselves trying to outdo each other explaining just how chaotic the whole Shebang is. Although on the eve of the summit there is no doubt that print reporters have a distinct advantage over us broadcasters. They only have to find an internet connection to get their copy to the editors, whilst we are still struggling to get a satellite truck within one hundred miles of the event.

I know, you think I’m exaggerating just to make a point, don’t you? We'll just look at the facts then.

There will be a press pack of up to 3,500 journalists attending the summit and yet where are we all being housed? Simple, everywhere but L’Aquila! As I write I’m in Chieti, which is exactly 147 kilometers east of the summit centre. I am not alone. Most hacks are holed up somewhere within a radius of up to 150km. In fact, I understand that many have just given up trying to get in and out of the mountainous L’Aquila and are now sampling the G8 chaos from the capital Rome, which is of course only 117km away.

AP
Italian Prime Minister Silvio Berlusconi

Don’t get me wrong, I really do admire the Italian Prime Minister’s ambition. Housing a summit of around 40 of the world’s leaders (for G8 read G30-something), representing 90 percent of the globe’s GDP in a town that has been shattered by a savage earthquake only two months earlier can be seen as a very noble aim. Bringing desperately needed aid and focus to a town that saw over 300 people killed and over 50,000 made homeless is undoubtedly a good thing.

Putting world leaders in a barracks for finance police rather than a glitzy Mediterranean paradise is a welcome dose of reality for “sobriety and solidarity,” as Berlusconi puts it.

The problem is, it doesn’t work. It never was going to work.

I toured the town yesterday. It scared me. It was a ghost town. Whole avenues, piazzas, etc were empty apart from army, police and other security personnel. Beautiful monuments were being held up by scaffolds, sides of building were simply missing.

On the outskirts of this destruction I saw real tragedy which put into perspective the mild irritation the G8 circus is suffering. Thousands of people living in tents, caravans and other assorted temporary accommodation. And yet those we spoke to still believe Berlusconi and his Government have done the right thing by bringing the G8 to town.

I can’t help disagreeing. I think he has potentially made the Italian-held summit a chaotic mess which will only reflect badly on the country in the longer run.

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
  • Social enterprises are becoming a new asset class for the ethically-minded.
  • With Americans cutting back on spending, holiday tipping will take another hit this year.
  • It may be the most unusual guide to business you'll read.
  • "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
  • Some of the nation's top bartenders offer suggestions on what to serve at holiday celebrations this year.
ADD COMMENTS
Remaining characters


Current DateTime: 06:14:06 27 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 09:11:31 27 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 08:46:06 27 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 07:56:30 27 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters