Oct. 10 (Bloomberg) -- The European Union called for a “renewed collective G20 spirit” and urged a summit that restores confidence, supports sustainable growth and maintains financial stability.
In a letter to other members of the European Council, European Commission President Jose Barroso and EU President Herman Van Rompuy said Europe will be the focus of the Cannes summit.
“Our G20 partners’ perception is that if Europe does not solve its sovereign debt crisis there will be dangerous spillovers on the global economy,” Barroso and Van Rompuy wrote in the letter. “We need to show them that the European Union is determined to do whatever necessary to overcome the current difficulties. At the same time, we will also demand from our G20 partners a constructive contribution to face the global economic challenges.”
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