G20 Leaders Wrestle with Trade, Climate and Financial Crisis
Jubilee USA Releases Statement on Japan Summit
Osaka, Japan - Leaders of the world's wealthiest economies gathered at the annual G20 Summit to discuss global policies on trade, climate, debt, tax and financial crisis prevention.
Eric LeCompte the Executive Director of the religious development group Jubilee USA, releases the following statement on the G20 Japan Summit:
"Trade tensions, climate change concerns and preventing global financial crisis dominated much of the Osaka Summit.
"There is great concern at the G20 meetings about debt crises and future financial crisis.
"The G20 was founded to prevent financial crisis and there is willingness to move forward global policies on debt sustainability and transparency. The question is whether or not we can achieve policies that move beyond voluntary crisis prevention and implement binding policies that will prevent future crisis.
"Combating financial secrecy and raising revenue in countries remained a key focus of the Japan meetings.
"Fundamentally, we need trade policies that protect workers and the vulnerable. We need to see shifts in the status quo on trade policies.
"Climate is a critical issue, especially as the G20 focused this meeting on ensuring that economies can be more resilient in the face of natural disasters. Economies that can be resilient in the face of disaster need debt policies that offer relief until recovery goals are met."
Bankruptcy and Financial Crisis
Although we agree on the causes of financial crisis, it's now time to agree on a global solution.
Jubilee USA believes in preventing financial crisis and supporting measures that protect vulnerable people from the impacts of financial crisis.
Jubilee USA works on a global bankruptcy framework that resolves financial crisis, prevents austerity, reduces poverty and promotes transparent budgets and lending. We need a global process that facilitates timely and orderly debt restructuring and brings debt to sustainable and payable levels. Vulnerable communities too often are the brunt of a financial crisis they did nothing to create.
The entire global economy and our national security relies on achieving greater predictability and transparency.
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