Bloomberg News

G-20 Draft Asks EU for Decisive Crisis Action at Oct. 23 Summit

October 15, 2011

Oct. 15 (Bloomberg) -- Group of 20 finance chiefs will today call on Europe’s leaders to take decisive steps when they meet Oct. 23 to contain the region’s sovereign debt crisis, according to an official from a G-20 nation.

The draft statement to be released after talks today in Paris advises the EU to maximise the power of its regional rescue fund and to avoid contagion, according to the official who spoke on condition of anonymity because the statement isn’t finalized.

The G-20 will also commit to ensuring banks are capitalized and pledge that central banks stand ready to provide liquidity, the official said.

To contact the reporter on this story: Simon Kennedy in Paris at

To contact the editor responsible for this story: Craig Stirling at

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