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EU Urges G20 Leaders to Step Up Efforts to Restore Global Confidence

September 6, 2013

The European Union (EU) Wednesday called on G20 leaders to step up efforts for a sustainable economic recovery and to fight against tax avoidance and evasion worldwide.

European Commission President Jose Manuel Barroso said before leaving for Saint Petersburg: "The global economic situation makes one thing clear: all G20 leaders need to step up their efforts for recovery, for growth and jobs, for open trade and for fairer taxation."

He noted there was no room for complacency and much remained to be done by all G20 members to restore economic confidence globally.

G20 leaders will discuss the global economy and the need to invest in growth and job creation. According to the European Union's statement, the EU has vigorously supported placing global growth and employment at the very top of the G20 agenda.

The EU said in the statement leaders should adopt an ambitious "Saint Petersburg Action Plan" with a focused package of measures that can enhance strong, balanced and sustainable growth.

Meanwhile, on financial regulatory reform, the EU said it remained a cornerstone of the G20 and that Europe was delivering on all fronts.

The EU will also call on its G20 partners to commit to the timely and effective implementation of the agreed measures to fill in the remaining blanks in financial regulation.

Source: Copyright China Economic Information Service (Xinhua) 2013

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