Monday, November 07, 2011

Results of Summit to Rebalance Global Economy

After two days of intense discussion among G20 leaders, a consensus has been met concerning the financial and economic future of the eurozone and developing nations.  It has been decided that plans to increase the resources of the International Monetary Fund will take place in hopes of re-stabilizing the global economy with the promise of growth.  Understand that the additional contributions to be made into the IMF are to help countries in severe distress, not for the purpose of alleviating the debt crisis of the eurozone alone.  There are more poverty stricken nations that are in much dire need of the financial assistance.

It is certain that coming out of the eurozone debt crisis will be no easy feat, even more so when countries outside of the eurozone are reluctant to contribute to the bailout fund, confirms German Chancellor Angela Merkel.  But, should the rest of the world be taking on the problems of the eurozone?  Not all European nations are on board for increasing taxes on their citizens.  Despite Europe's current financial anguish, G20 leaders have come together and devised a final communiqué that will confront the current global structural issue directly.

To achieve the ultimate goal of global stability and growth requires a collective and ambitious action.  It is in the hands of G20 to make the change and make a difference in the lives of the suffering. 

“Europe has the capacity to meet this critical challenge... understanding that these problems will not be solved overnight...”  
-President Barack Obama

-Georisa Chang