the Group of Twenty (G20) leaders of other member states

　　Abstract: The EU leaders will tell a summit next month, the Group of Twenty (G20) leaders of other member states to comply with the agreements reached at the G20 finance ministers resist the competitive currency devaluation. But they can not accept the United States current account balance target set of proposals.

Compass News Online October 30 - EU leaders will tell a summit next month, the Group of Twenty (G20) leaders of other member states to comply with the agreements reached at the G20 finance ministers resist the competitive currency devaluation. But they can not accept the United States current account balance target set of proposals.

G20 summit will be held November 11-12 in Seoul, Korea, at which world leaders will seek to re-balance the way to global economic growth.

EU President Rompuy (Herman Van Rompuy) at a press conference that "the global economic recovery is still at risk, and global economic imbalances and exchange rates will also be at risk."

Van Rompuy said, "These issues affect the EU's economic growth and employment prospects. "

European Union leaders summit in Seoul in a written conclusion, wrote, "the EU stressed the need to avoid all forms of protectionism, and the need to avoid taking short-term competitive advantage to the exchange rate action."

And European Commission President Jose Manuel Barroso Rompuy (Jose Manuel Durao Barroso), said in a joint letter, "If the current account target set of issues was raised again, we should stress the benefits of our own system."

Van Rompuy and Barroso will represent the 27 EU member states attended the summit in Seoul. According to the first edition of the joint letter, they will be at the meeting called for the exchange rate and capital inflows to repair action to curb the growing global imbalances.

According to the European Central Bank President Jean-Claude Trichet (Jean-Claude Trichet) of the proposed joint letter made some adjustments, including exchange rate policy is expected to make the EU more explicit wording.

The final version of the joint letter said, "we can not ignore the recent exchange rate, and should vigorously promote a strong and stable international financial system meets the national interests. "

Joint letter said, "G20 should be reiterated that reflect economic fundamentals in relation to the market-oriented exchange rate system, commitment to development and to avoid competitive devaluations."