Yes, I would. I certainly agree with the Right Honourable Paul Martin. It's important for Canadians to remember that Paul Martin was the co-creator and founding visionary of the G-20 back when it was a finance ministers forum invented with Larry Summers in 1999.
Secondly, we need to remember the 2001 G-20 finance ministers meeting held in the aftermath of the terrorist attacks on North America on September 11. All other international meetings were cancelled, as was the G-20 scheduled to be held in India. Paul Martin stepped forward on behalf of Canada and said that we needed international meetings. He did incur the cost of securing a site in Ottawa so that the G-20 finance ministers meeting could take place and effectively it turned its focus to combatting terrorist financing.
As we move forward, of course, in 2004 and 2005, Paul Martin led the international crusade to elevate the G-20 finance ministers forum to the leaders level and got all of his colleagues as leaders to agree, save one. That was President Bush of the United States. Three years later, President Bush changed his mind. I think Paul Martin speaks from having been there and done that, if I could put it that way.
As for the benefits and the responsibilities of hosting—let's call them the branding benefits, broadly defined—we always have to remember that the Government of Canada and many Canadians quite properly were going around the world and saying, “Look, we have the world's finest financial system and we survived the crisis intact.” Toronto had become one of the world's leading global financial centres, so there was a particular message for a finance-focused summit to be in that particular location.
More importantly, the Toronto G-20 summit was the first that was co-hosted by an old established advanced G-8 economy, Canada, and a newly emerging rising trans-Pacific one, Korea. By hosting that summit, and in the home of Canadians of Korean and Asian origin in large number, Canada made history, and of course the visual venue was appropriate for the political innovation in global governance that was being held.