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World > Europe > London G20 summit 2009

British PM: G20 summit must provide confidence, hope

2009-03-31 13:47:19 GMT2009-03-31 21:47:19 (Beijing Time)  Xinhua English

LONDON, March 31 (Xinhua) -- The upcoming Group of 20 (G20) summit must provide confidence and hope to the world economy and the people, British Prime Minister Gordon Brown said on Tuesday.

The meeting "must supply the oxygen of confidence to today's global economy and give people in all of our countries renewed hope for the future," Brown said in a speech to faith leaders and NGO representatives.

Leaders of the G20 major world economies will meet in London on Thursday to discuss further measures for revitalizing the world economy and reforming the international financial system.

According to Brown, the battle the G20 leaders are fighting this week "is not the old one against old enemies, but a new one, against global recession, against climate chaos, and against unemployment, insecurity, poverty and hopelessness."

He said the meeting faces several major tests, the first of which is to clean up the world banking system, curb the use of tax havens and introduce principles for pay and bonuses "so that instead of banks serving themselves they serve the people."

He also highlighted the necessity to reshape the global financial system, to create jobs and to fight rising protectionism.

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