CREDIT TALKS FOR EMERGING ECONOMIES


The Group of Eight (G8) has to involve emerging market economies more in fighting the global crisis, Italian Prime Minister Silvio Berlusconi and British counterpart Gordon Brown wrote on Thursday in a joint article in an Italian newspaper.

“To be successful in tackling the global crisis, we must involve the main emerging economies,” they said in the article in business daily Il Sole 24 Ore.

“The G20 process started in Washington does already fully involve them, and the Italian presidency wants to reinforce the dialogue already started with Brazil, China, India, Mexico and South Africa, through a stable and structured partnership,”

“Italy also intends to involve a Muslim, Arab, African country like Egypt. Both governments, Italian and British, are engaged in reinforcing their commitment to include African leaders and others …,” they said.

The G8 nations are United States, Japan, Germany, Britain, France, Italy and Canada plus Russia.

Berlusconi and Brown also said world leaders at April’s G20 summit in London would “converge to strengthen international coordination” to tackle the global economic crisis.

“At the London summit we ought to seek to agree a Charter of principles for financial regulation and supervision,” they said.

The G20 includes the large emerging market economies.

SOURCED FROM REUTERS

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