A UE NA CIMEIRA DO G20
The Group of Twenty (G-20) is the premier forum for international economic cooperation. It promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability.
A UE NA CIMEIRA DO G20
This summit was the third meeting of the G-20 leaders to discuss financial markets and the world economy. Swedish Prime Minister Reinfeldt and President Barroso represented the EU in Pittsburgh, Pennsylvania, United States on September 24–25 2009.
"Financial markets must concentrate on ethical long-term investment, not reckless short-term gambling"
At the end of the summit, President Barroso said: "Having seen the central role played by the EU in the creation of the G20 at leaders’ level a year ago, I am particularly happy with the decisions taken today and the new permanent role of the G20."
The G20 agreed to tighter coordination of the world's main economic policies but also to rein in exorbitant bonuses and hold international finance to account. "But we will only achieve a full and sustainable recovery if we also tackle climate change and kick-start trade", concluded the president.
During a joint press conference with Prime Minister Reinfeldt before the summit, President Barroso called for global rules based on universal values which would reflect the reality of economic interdependence. He remarked on the EU's long-term support for the G20's crisis coordination plan. He also underlined the weight Europe was giving to the notion of a Charter for Sustainable Economic Activity - "it is a way of providing the economic and ethical basis for global governance" - and explained that taking specific action to rein in exorbitant bonuses was important "in terms of ethical principle and also for the legitimacy of our financial systems and the way they are seen by our citizens."
"Opening a new era for global Europe"
At a cermony where he received an honorary doctorate from Pittsburgh University, President Barroso took the opportunity to highlight the close relations between Europe and the United States and explained why he called for a new 'Atlantic Agenda for Globalisation' the previous September. "This would send an important signal to the world that we are determined to mould the structures of global governance together". However, concerning the events over the year, he noted that "in some ways, this reinvigorated transatlantic partnership is beginning to take shape spontaneously, as the economic and financial crisis forces all to step up the pace of global co-operation".
"Europe has a lot to offer to shape globalisation"
In an article published before the summit, President Barroso said that "the crisis that we face is not just an economic crisis. It is a crisis for the values of our societies." The G20 provides an opportunity to shape globalisation or "the chance to develop a sustainable model to replace the one brought to its knees by the failure of financial markets." In this context, he stated his belief that Europe has much to offer in the development of this new global architecture. "We have been a laboratory for cross-border supranational cooperation for 60 years. The European model of society strives to surpass the destructive dichotomy of unregulated markets or over-powerful states."
- PRESS RELEASES AND STATEMENTS
VIDEOS AND PHOTOS
José Manuel Barroso, Barack Obama, President of the United States, Margarida Sousa Uva, wife of José Manuel Barroso, and Michelle Obama, wife of Barack Obama