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Group of Twenty designed to increase growth despite differences
The member states of the Group of Twenty Tuesday designed to increase global economic growth, but they found it difficult to overcome the divisions on the best way to overcome the Greek debt crisis.
Istanbul: approved finance ministers and central bank governors of the Group of Twenty nations that global economic growth is still "uneven" as he was "slow", especially in the euro area and Japan, as well as some emerging economies.
They also warned of the risk of "continuing recession" in some major economies because of the "weakness of inflation for a long time in addition to slow growth." According to the final statement of the group, "We are determined to overcome these challenges" to achieve sustainable growth can create jobs, which is the main objective of the Turkish Presidency of the Group of Twenty.
The group states that the sharp decline in oil prices recently would provide "some payment" for global growth, and must allow States to "re-evaluate" fiscal policies to maintain economic activity.
She stressed that fiscal policy "plays a key role" in building trust and maintaining internal demand, to encourage some countries to give up its insistence on austerity.
He said US Treasury Secretary Jacob Liu said Washington wanted States to use all the tools available to see it has - including politics Almalah-- to boost the economy.
He told reporters in Istanbul "in Europe, there is a need for more fiscal policy. There is a lack of demand."
He said the United States, which is currently enjoying its strongest economic performance, can not be solely responsible for global growth.
"I would not be a good trip for the global economy if it was the only wheel which is followed by the United States."
In line with the agreements concluded during the Australian presidency last year, members of the group states seek to increase global growth by at least 2% and create millions of new jobs over the next four years.
The Director of the International Monetary Fund Christine Lagarde said "time is very important," because of the risk of economic growth and high unemployment low in many countries.
The statement did not mention Greece specifically, a non-member of the group. But the Greek debt crisis was at the heart of the bilateral talks in Istanbul, ahead of a key meeting of finance ministers from the euro zone Wednesday.
In an interview with Bloomberg TV British Finance Minister George Osborne expressed concern Monday evening doubled the risk of "a very bad end" to the crisis.
And disappointment, German Finance Minister Wolfgang Schaeuble said he hopes the market will not be negotiating a new economic program with Greece, stressing that he must first hold talks on the current aid package for Athens. He described Schaeuble reports that Greece is about to agree on a new deal on its debt with international creditors as "incorrect."
"We're not discussing the new program, because we already have a program," referring to the current program of Greece.
But Liu called for flexibility and said that there is a need to find a workable solution that does not cause a state of instability in Greece or Europe.
"We must have a dialogue on the adoption of a pragmatic approach in which the parties can agree on a suitable for all conditions."
Amid the attack in Iraq and Syria by organizing the Islamic state is well funded, the Group of Twenty expressed their commitment to "enhance cooperation" in the fight against the financing of terrorism.
The statement said that this can be done through the exchange of information "and to freeze the assets of terrorists."
The statement called on "all States to speed up its commitment to international standards" relating thereto.
He said that the financial tasks to combat money laundering and other devices team "should focus specifically on the (anti) the financing of terrorism."
He added that those agencies develop guidelines to improve the transparency of payment systems in order to reduce the risk of the use of funds in the financing of terrorism and money laundering.
The Group of Twenty asked to submit a report by October on "all proposals to strengthen the fight against terrorism financing tools."
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