The debate over the issues up for discussion at the London Summit has moved to a new level in the wake of US President Barack Obama’s commitment this week to help 'coordinate' policy among the G20 countries and Gordon Brown’s well-received address to the joint houses of Congress.
Jose Manuel Barroso, the President of the European Commission, urged EU leaders to show 'unity, confidence and determination' and agree of a comprehensive recovery plan.
Mr Brown was able to fly to Washington following an informal meeting of all 27 EU countries on 1 March that saw leaders take a unified stance on a plan to build confidence and promote financial stability; get the real economy back to work; and joint action at global level.
The next major milestone for the EU is the Spring Council on 19-20 March. 'The Spring Council must send a strong signal to citizens, businesses and the world,' he said in a letter to leaders. 'EU leaders must pave the way for Europe to lead by example and by persuasion as we approach the G20 summit in London.'
However in an editorial in Le Figaro, Pierre Rousselin said that if the G20 was to get any results, there was still some way to go. 'Brown needs to realise that he must rely on both the EU and the US: he needs Europe to help with his national problems and the US to overcome the global crisis.'
Writing in The Times, Richard Lambert, the head of the UK's employers' group, the CBI, said: 'People around the world are looking to the London meeting of the G20 on April 2 witha real sense of urgency.' He said that to be a success, the Summit will need 'political leadership of the highest order - above all, from President Obama'.
In a forceful editorial, the New York Times said: 'As they prepare for the summit of the group of the world's 20 biggest economies in London on April 2, leaders of industrial nations must quickly work on a plan to provide large-scale financial assistance to avert an economic catastrophe in the developing world.'
Launching its coverage of the London Summit, the Financial Times said a globally coordinated fiscal stimulus was emerging as a 'unifying theme' ahead of the summit in London on 2 April.
It laid out what it saw as the key issues filling negotiators in-trays as the G20 officials - known as Sherpas, met in London on 5 March:
- Protectionism and a commitment to advance the so-called Doha round on talks on world trade;
- A call for tax havens to show more transparency Discussion of government’s 'many and varied attempts to boost economies through tax cuts and spending' - though the article assesses that any proposal such as a binding target on stimulus as a share of gross domestic product is likely to meet resistance And coordination of financial regulation for large institutions that cross national borders
Brown to the US Congress: 'Build tomorrow today'
Brown says world leaders must shape global markets to meet the needs of people
4 March Brown calls world leaders to seal a 'global new deal'
Brown says world leaders must shape global markets to meet the needs of people
White House meeting triggers global interest
The meeting between the British Prime Minister and the US President has put the London Summit on 2 April firmly on the media’s agenda both in American and around the world.
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Editors' blog
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Time for reflection
05/04/2009 -
The morning after
03/04/2009