G20 Preparatory Meeting: statement by José Manuel Barroso
End production: 22/02/2009 First transmission: 22/02/2009
Angela Merkel, German Federal Chancellor, hosted a summit for European leaders of the G20 in the Federal Chancellery in Berlin on 22 February 2009, to discuss the global financial crisis and prepare for the London G20 summit in April. José Manuel Barroso, President of the European Commission, and Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, attended the meeting.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||SOUNDBITE José Manuel Barroso, President of the EC, (in ENGLISH): I think there is now a real chance to make a change in the world; because we have understood in this crisis that this is indeed a global crisis, that there are real global problems; for these global problems, we need global rules and global principles; so there is an occasion to advance our agenda for a social market economy; it means an open economy but an open economy with rules, with principles, the principles of sound regulation, sensible supervision, but also social responsibility.
||SOUNDBITE José Manuel Barroso (in ENGLISH) on a greener economy for the new financial system: the European Union is leading on that matter; we have achieved a very ambitious agreement; now we are discussing with our partners, namely the United States; and precisely, we believe that part of this new global architecture, apart from the financial aspects, has also to do with sustainable development, a development that is more friendly to our planet.