EU agrees its position for Pittsburg summit (21/09/2009)
On the 17th of September in Brussels EU heads of state and governments met on the informal council to discuss common EU position for G20 summit in Pittsburg that is about to take place on the 24–25 September.
EU leaders concluded that the G-20 should reaffirm its determination to continue implementing coordinated policy measures in order to develop the basis for sustainable growth and to avoid a repetition of the financial crisis. Efforts must be maintained until recovery is secured. Overall support to the EU economy in 2009 and 2010 is projected to amount to around 5 percent of GDP.
In the labour market particular attention must bepaid to maintaining employment, creating new jobs and promoting mobility, upgrading skills and matchingthem to labour market needs, andincreasing access to employment.
The G-20 should commit to a globally coordinated system of macro-prudential financial supervision,based on close cooperation of the IMF and the supervisory authorities, witheffective exchange of information.
The G-20 must fulfill the commitment subscribed to in London on pay and compensation toencourage sound risk management and a strong link between compensation and long-termperformance.
The G-20 should state its commitment to strengthen recovery in the world's poorestcountries. In particular it should signal its support for investing in long-term food security,reducing energy poverty and improving financial access, both for SMEs and poorhouseholds.
The climate is changing much faster than expected. The risks posed by climate change are real and can already be seen. This underlines the urgent need to reach a global, ambitious and comprehensive agreement in Copenhagen.
The G-20 should commit to improving energy security by increasing oil and gas markettransparency and containing speculation.