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Markets  |  June 18, 2012 08:05:06

The G20 Summit will deal with the global economy, measures to increase the debt crisis and the euro area

BERLIN (MEDIAFAX) - The summit of the world's most advanced countries, the G20 will discuss mainly about the global economy and for growth, but also the debt crisis Eurozone. The summit will be held on Monday and Tuesday in Los Cabos, Mexico.

"In this context, the situation in the euro area an important topic for discussion at the G20 summit. We will use decisive EU action to implement comprehensive measures in response to the crisis of public debt: we want to solve the problems of vulnerable countries to promote growth through structural reforms and a variety of fiscal consolidation and growth in the European Semester, strengthen the financial protection of the euro area and encourage financing and recapitalize banks and to strengthen economic governance in the euro area, "said Friday in a joint statement of the European Commission chief Jose Manuel Barroso and European Council President Herman Van Rompuy.

They also want to confirm once again its commitment to ensuring financial stability in the euro area and its integrity. "At the same time we made it clear that we wish to Greece remained in the euro area, while respecting its obligations. Our partners will also inform about the work they are doing to strengthen and deepen our economic union and get it to a comparable level with monetary union , "said Barroso Van Rompuy.

Both Presidents also their partners from the G20 countries invited to recognize their own responsibility for the global economy and its balance delivered sufficiently strong pulses. "The EU is convinced that the Action Plan for Growth and Employment in Los Cabos, which should be adopted by G20 leaders, must be balanced combination of fiscal consolidation and structural reforms, including the balanced commitment of all members of the G20, including the U.S., Japan and China,that will serve as a practical framework for all G20 countries to renew their commitment to strengthening global growth, "said Barroso also with Van Rompuy.

Another important item on the agenda of the G20 summit, according to them will strengthen the international financial architecture and financial system, reform of financial sector regulation and promoting financial inclusion. Finally, both Presidents Considering employment, especially young people, a key issue in the EU and the G20 and welcome the continued focus of the G20 on employment issues.

An unnamed German government official recently said that the Berlin summit to be the most advanced countries in the world bow down before the pressure of the G20 to promote growth by increasing loans and therefore debt, wants to focus on the problems the U.S. and China.Responsibility for the worsening global economy, according to German officials "based on several arms" and should not be "reduced to problems of the euro area", and pointed to the role of the United States, China and some emerging economies in the G20.

Berlin reportedly also wants to discuss recovery without America's public finances and the issue rate of the Chinese currency. "The euro area is definitely on the agenda, but we think we should also talk about the problems of consolidation of public finances in the U.S. and Chinese currency flexibility," added the source.

Germany at the G20 summit gets under observation probably under pressure, because when it is sought to increase government spending. The German official is expected that the G20 leaders at the summit agreed on a plan to strengthen the medium-and long-term economic growth.

The European Union is a full member of the G20, along with Argentina, Australia, Brazil, China, France, India, Indonesia, Italy, Japan, South Africa, Canada, Korea, Mexico, Germany, Russia, Saudi Arabia, the United Kingdom, United States and Turkey.

Traditionally, summits and other countries participate as guests. Mexican Presidency invited as official guests of Spain (permanent host country), Benin (Presidency of the African Union), Cambodia (the Presidency of the Association of Southeast Asian Nations), Chile (Presidency of the Community of Latin American and Caribbean States), and Colombia. In addition, Ethiopia is also invited as the presiding country of the New Partnership for Africa's Development (NEPAD). As in the past, will now take some further action, such as the Business Summit (B20) and the Summit of the work (L20).

Tomáš Králíček,

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Na summitu G20 se bude řešit globální ekonomika, opatření k růstu i dluhová krize eurozóny

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