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G20 Summit Ends With Declaration in Mexico

Written: 2012-06-20 08:50:36Updated: 2012-06-20 15:15:20

G20 Summit Ends With Declaration in Mexico

The G20 Summit in Mexico ended on Tuesday with the adoption of a joint declaration.

In the declaration, the leaders of the G20 member countries called for the financial integration of the euro zone as a way to resolve the region’s financial crisis.

The leaders also urged debt-stricken countries in the euro zone to boost competitiveness, while calling on more financially stronger nations to expand domestic demand.

At the summit, G20 leaders agreed to expand the emergency relief fund of the International Monetary Fund to 456 billion dollars in line with agreements reached during the G20 Summit held in Seoul in 2010.

Some observers say the summit gathering failed to produce substantive ways to resolve the euro zone’s financial turmoil, and had only presented a direction in addressing the matter.

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