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Presidents of the European Commission and the European Council call on fellow G20 leaders to support goals on reform and recovery

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24 Jul 2013

In a joint letter to the 28 EU Heads of State and Government, European Commission President José Manuel Barroso and European Council President Herman Van Rompuy inform about the key issues coming up for discussions at the G20 summit in Saint Petersburg on 5-6 September 2013 and call on fellow G20 leaders to unite around a common purpose to improve global confidence and support the global recovery.

Among the main priorities of the summit they stress that the financial reform needs to be completed. They urge the G20 to develop "a clearer narrative to set out what has been achieved so far and what is left to be done". Above all, they claim, a renewed commitment to timely and effective implementation is needed from all G20 partners who also need to ensure the completion of the convergence of international accounting standards in order to find the way to strong, balanced, sustainable and inclusive growth.

This echoes the final communiqué of the recent meeting of the G20 Finance Ministers and Central Bank Governors held in Moscow which saw again a call for a single set of high-quality accounting standards as these would be crucial for the resilience of financial markets.

Please click for access to the full letter on the European Commission website.

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