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Brazil's Lula
Urges G20 To Focus On World
Economic Regulations
Rio de Janeiro - Brazilian
President Luiz Inacio Lula da Silva said on Monday
that the G20, which gathers the world's largest
developed and emerging economies, provides a good
forum for discussing new regulations on the world
economy.
According to the Brazilian president, the G20, which
represents around 80 percent of the world's wealth,
is in a good place to discuss such matters.
"We need to establish the G20 as the group to decide
the rules which will control the international
financial system from now on," Lula said in his
weekly radio show "Breakfast with the President."
However, he said that nations other than the G20
members should also be allowed to participate in
such discussions.
Lula's remarks have been echoed by the leaders of
the industrialized economies when they met for the
G8 summit in Italy last week. They had said the
largest emerging countries shouldn't be excluded
from the most important economic decisions.
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