The G-20 summit will take place from 3 – 4 November in Cannes, France.
The European Union is a full member of the G-20 and will be represented by the President of the European Commission, José Manuel Barroso, and the President of the European Council, Herman Van Rompuy.
Presidents Barroso and Van Rompuy shared their views in advance of the summit in a letter sent to the other members of the European Council on 7 October 2011 (see MEMO/11/678). Both Presidents will present the EU's position in Cannes after the European Council on 23 October will have finalised EU preparations of the G-20 summit.
In the letter they call for a "renewed collective G20 spirit" and stress that "the fact that France holds the G20 Presidency this year gives Europe a special responsibility. We need to make the Cannes Summit a G20 Summit that restores confidence, supports sustainable growth and job creation, and maintains financial stability".
Both leaders expect that Europe will be in the focus of the Cannes Summit. "Our G20 partners' perception is that if Europe does not solve its sovereign debt crisis there will be dangerous spillovers on the global economy. We need to show them that the European Union is determined to do whatever necessary to overcome the current difficulties. At the same time, we will also demand from our G20 partners a constructive contribution to face the global economic challenges."
Presidents Barroso and Van Rompuy consider the following EU priorities for the G20 summit:
- restoring growth and tackling global macroeconomic imbalances;
- making tangible progress on implementing the financial market reform agenda;
- making the International Monetary System more resilient;
- boosting trade as the most effective way to support global growth;
- enhancing the social dimension of globalisation;
- ensuring Food Security and promoting the G20 Development Agenda and Innovative Financing. In this context they refer to the Commission's proposal for a financial transaction tax for the EU IP/11/1085 and MEMO/11/640 and express their convinction that "a similar approach among G20 partners can help us all meet global challenges. We will therefore strongly support further discussions by the G20 in this field;
- continue tackling the global climate and energy challenge and the fight against corruption;
- improving global governance.
A G20 finance ministerial meeting will take place on 14-15 October in Paris.
The EU played a key role in launching the G-20 leaders' process in 2008, and has provided much of the political impetus and substantive thinking that has established it as the premier forum for global economic coordination at the Pittsburgh summit in 2009.
In 2011 France holds the presidency of the G-20.
cannes, the cannes, energy challenge, g-20, european council, european union, g20, european commission, manuel barroso, herman van rompuy, paris, pittsburgh, europe, france, international relations, international organizations, international economics, diplomatic conferences, politics, president of the european council, g20 ministerial meeting, president
677 days ago,(2012/06/16) - News Articles
The International Organization of Securities Commissions has published today a report on The Credit Default Swap Market (http://www.iosco.org/library/pubdocs/pdf/IOSCOPD385.pd...
News: Financial Stability Board Releases A Global Legal Entity Identifier For Financial Markets: FSB Report To The G20
685 days ago,(2012/06/08) - News Articles
The Financial Stability Board (FSB) today published “A Global Legal Entity Identifier for Financial Markets – FSB Report to the G20”. The aim of t...
674 days ago,(2012/06/20) - News Articles
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today at the conclusion of the 2012 Group of 20 Leaders Summ...
199 days ago,(2013/10/07) - Fixnetix
Trading technology services provider earns accolade for pre-trade risk control. London - 7 October 2013 - Fixnetix, global managed services provider...
News: Statement By European Council President Herman Van Rompuy And European Commission President Jos Manuel Barroso On The Results Of The G20 Summit In Los Cabos
673 days ago,(2012/06/20) - News Articles
At this summit, G20 leaders showed strong resolve to promote growth and jobs and the EU made an important contribution, setting out its sustained, crisis comprehensiveresponse...