Angela Merkel Chancellor of Germany and current G8 president in her opening speech at Davos pointed out that ‘We need a binding regime that includes all of those who produce emissions. Of the overall CO2 emissions we [the EU] have 15 per cent. 85 per cent of those emissions come from somewhere else and the share of Europe is going to go down, so it is a global responsibility.’ There was little indication that the G8 conference in June would be the venue for such agreements to be made. In part because she wants the two day summit to return to its roots and focus on economic imbalances and partly because she wants commitments from non G8 commitments for the next phase of Kyoto.