Sunday, October 30, 2011

US, China quid pro quo at G20

BRUSSELS: The Group of 20 leading from the Costa Azul, this week, with Europe to take full advantage of debt crisis facing the demands of its partners now do their part for the global economy.

At the G20 meeting in Cannes on Thursday and Friday to EU leaders will meet with the United States, China and other countries have pushed to put their affairs in order for the benefit of all.

The first reaction in the agreement of the euro area has been positive.

The market was pleased to restructuring the debt of Greece, to help banks cope with the loss, support for other EU countries struggling with debt, and seeks to increase the euro rescue fund.

To make the point for Cannes summit, said spokesman Jay Carney White House "Message from the President of the European Union and virtually all members of the G20, is that we have to work individually and collectively .. . together "to get the global economy back on track.

China said Friday it is looking for greater clarity before investing in the Fund renewed euro rescue plan, Klaus Regling director of the European Financial Stability Fund, discussed in Beijing, trying to get support from the world's second largest economy .

G-20 members want China to boost domestic demand, diversification of its conquest of all driven by exports and, finally, the business model that allows the yuan to rise freely to facilitate its huge trade surplus.

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