After 2 days of conferences ( on the 18th and 19th June 2012), the G20 finally closed its doors. Every head of government went back home.
|The heads of government at Los Cabos, Mexico, June 2012|
According to the official report of the G20, regarding the Europe has to continue its efforts to save its economy and that to define limits to the financial system: “The Euro Area members of the G20 will take all necessary measures to safeguard the integrity and stability of the area improve the functioning of financial markets and break the feedback loop between sovereigns and banks.” (http://www.g20.org).
The main 6 points highlighted during the G20 regarding the Growth and jobs are the following:
- “Advanced economies will ensure their fiscal finances are on a sustainable track.”
- The efforts to rebalance global demand will be intensified through different levers.
- Structural reforms “to boost the increase and sustain global demand, foster job creation” and finally, to “contribute to global rebalancing and increase the growth potential of the G-20 countries.”
- Need to implement financial reforms in order to make the financial system more trustable, stable, and resilient to support the economic growth.
- The promotion of the open trade and the resistance against the protectionism.
- Member countries affirm their willing and commitment on actions to maximize growth potential and economic resilience in developing countries.
This information seems to be the continuity of the former G-20. Nothing very fresh.
At least, even if the G-20 does not have brought new solutions on the table, the positive aspect is that Mexico has established its role and place in the Big league!