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EU Aims to Present United Front at G20 Summit | Europe | Deutsche Welle | 30.03.2009
After refining its economic positions at a recent summit, the EU seems ready to present a united front at the upcoming G20 talks in London. But some issues are still being fought over within the 27-member bloc. 

At a summit in Brussels on March 20, the EU member states agreed on an extra 75 billion euros ($101.5 billion) for the International Monetary Fund (IMF), as well as a further 25 billion euros in emergency credit for Eastern Europe. With that, the union appeared to have aligned the position it would take at the upcoming G20 summit in London on April 2.

Going by the words of French President Nicolas Sarkozy at the latest EU summit, it would seem that the European Union is marching to London in step as one unit.

"Everyone agrees on tax havens and a blacklist, on hedge funds and executive pay, on clear balancing rules for banks and the need for regulation," Sarkozy said.

by Fran on Mon Mar 30th, 2009 at 02:05:22 PM EST
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A Summit at the Abyss: Can the G-20 Save the World? - SPIEGEL ONLINE - News - International

All eyes are on London this week as leaders from the world's leading economies gather to find a way out of the growing financial crisis. But tensions are growing between the US, Europe and China, and a common course has so far proven elusive.

It is an important test for the new US president. During his campaign, Barack Obama promised fundamental change, pledged to steer a determined course in combating the global economic crisis and said he would seek greater international cooperation. It was, he said, to be a "New Deal."

This week, an important international summit meeting is about to begin, and the time has come for Obama to demonstrate that he can deliver on his promises. At their meeting in London, the representatives of the world's leading industrialized nations will discuss the global recession, a financial industry in disarray and a sharp drop in world trade.

At issue is the steepest economic downturn in decades, and everyone is waiting to see what the new man in Washington will do. Will he be responsive to the Europeans' insistence on a new global financial order? Or will he focus instead on stimulating growth in his own country?

The president who determined the fate of the London Monetary and Economic Conference in 1933, at the height of the world economic crisis, was Franklin D. Roosevelt. His eventual decision to distance himself from the conference aggravated the global trade wars and deepened the Great Depression.

by Fran on Mon Mar 30th, 2009 at 02:19:19 PM EST
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Either it's divided, or it's on the wrong position...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Tue Mar 31st, 2009 at 07:09:57 AM EST
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