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HindustanTimes Fri,24 Oct 2014

World

Hope G20 can help end global economic crisis: PM
IANS
Los Cabos (Mexico), June 18, 2012
First Published: 07:35 IST(18/6/2012)
Last Updated: 08:25 IST(18/6/2012)

Prime Minister Manmohan Singh arrived in Los Cabos on Monday for the G20 Summit with the hope that the two-day event will find meaningful ways out of the current global economic turmoil and restore growth.


"The world is in deep trouble," the prime minister told journalists, soon after landing at the San Jose del Cabo International Airport via Frankfurt. "Hope the G20 fill come up with constructive proposals to get the world out of the crisis," he added.

The prime minister will start his engagements Monday with a meeting he is hosting for the BRICS leaders -- Brazilian President Dilma Rousseff, Russian President Vladimir Putin, Chinese Premier Wen Jiabao and South African President Jacob Zuma.

Apart from attending the summit, he is also scheduled to meet a host of other leaders on Monday, including Mexican President and host Felipe Calderon and German chancellor Angela Merkel. A pull aside with US President Barack Obama is also expected, officials said. Bilateral talks will also continue on Wednesday.

The Indian side felt there was some positive signals emerging ahead of the G20 Summit with the results of parliamentary elections in Greece indicating that the debt-laden country could remain in the Eurozone.

In fact, ahead of leaving for Mexico, the prime minister had expressed concern over the situation.

"This situation in Europe is of particular concern, as Europe accounts for a significant share of the global economy and is also India's major trade and investment partner," the prime minister said.

"Continuing problems there will further dampen global markets and adversely impact our own economic growth. It is our hope that European leaders will take resolute action to resolve the financial problems facing them."

The prime minister, on an eight-day overseas visit since Saturday, is also set to attend the Rio+20 Summit on environment at Rio de Janerio to which he leaves Tuesday night and reaches the next morning.


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