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France:G20 summit ends in Cannes

Friday, November 4, 2011

Laaska News  Nov. 4 ,2011

 

Photo: EPA

According to reports from Cannes, a draft closing paper from the summit of the G-20 contains directives to drop protectionism, balance currency rates, bolster national markets, create jobs and carry out far-going structural reforms. The US is also advised to reduce its sovereign debt.

The G20 summit ended in France’s Cannes on Friday. The country’s President Nicolas Sarkozy has summed it up saying that the IMF bailout fund would be expanded to provide for both developing countries and the debt-stricken eurozone members.

He also added that the summit’s participants agreed on strict control over financial flows and tax evasion.

The summit resulted in no specific measure to pull Greece out of the crisis. On Friday, the participants were mostly tackling global issues.

Russia to host the 2013 G20 summit

Russia will host the 2013 G20 summit, the Organization’s leaders decided at the Cannes summit on Friday.

According to Russia’s Deputy Finance Minister Anton Siluanov, the countries have adopted Action plan for Growth and Jobs and Russia has also undertaken obligations in line with the document, namely to reduce inflation, unemployment and to keep the exchange rate of the ruble within fixed boundaries.

Draft action plan agreed at Cannes

According to reports from Cannes, a draft closing paper from the summit of the G-20 contains directives to drop protectionism, balance currency rates, bolster national markets, create jobs and carry out far-going structural reforms.

The US is also advised to reduce its sovereign debt.

(TASS, IF).

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Russian President Medvedev urges IMF to address EU crisis
AUDIO

The impact of the Euro Zone financial crisis is being viewed widely around the world. So much so that G20 is considering only European issues at its meeting.

Russian President Dmitry Medvedev has shared his opinion and his willingness to help. Medvedev said that, while Europe must act to overcome its financial problems, the IMF should likewise land a hand.

Medvedev believes that EU can cope with the problem by using political and financial resources of other countries.

VOR.

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