NEWS

Prime Minister Pahor attends an emergency summit of the European Council

The Prime Minister of the Republic of Slovenia, Borut Pahor, attended on Thursday evening an emergency summit of the European Council in Brussels devoted to preparation of the G-20 summit to be held on 24 and 25 September in Pittsburgh. At a working dinner, the leaders agreed on a common position to be advocated by the EU and its Member States at the G-20 summit.
 
Mr Pahor supported the common position and stressed that it was important for Slovenia that the G-20 economic recovery strategy remains committed to supporting the economy until there were solid assurances of growth. "States should withdraw incentives in line with recovery forecasts, in a co-ordinated manner, and by considering their situation and economic growth," stressed Mr Pahor.
 

(Foto: Wiktor Dabkowski)

 
In Pittsburgh, the EU will also support a greater degree of global macroeconomic co-ordination, with a key role to be played by the International Monetary Fund (IMF). This is also advocated by Slovenia. With regards to the strengthening of international financial institutions, and explicitly the IMF, Slovenia also draws attention to the unacceptable demands to reduce the number of European representatives at the IMF at the same time as pressure on the EU to increase capital.
 
Prime Minister Pahor assesses that financial market reform should include the G-20 agreement on uniform standards in all areas of regulation, so that financial institutions would not compete. This also applies to remuneration rules, where the practice of guaranteed bonuses has ended. At the emergency summit, the leaders also briefly touched upon the issue of combating climate change, which will be the topic of the UN conference in Copenhagen in December.