Monday, July 25, 2016

G-20 announces that it will slow effect “Brexit” – El Pais online

The largest economies in the world will work to support global growth and better share the benefits of trade, on the Sunday of the G20 they said after a meeting dominated by the impact of output United Kingdom of the European Union and fears of growing protectionism.

The new British Finance Minister, Philip Hammond, said uncertainty about the “Brexit” will begin to decline when UK expose a vision for future relationship with Europe, something that could be clearer later this year.
But Hammond could have market volatility during the negotiations in the coming years, said after the meeting of finance ministers and central bank members of the group of the twenty largest economies in the world in Chengdu, a city in southwest China.
“what we begin to reduce uncertainty is when we are able to establish more clearly the type of agreement that we see in the future with the Union European “Hammond told reporters.
a statement issued by the ministers of the G20 at the end of the two-day meeting he said the” Brexit “, which dominated the talks, added to uncertainty about the economy global, passing through a “weaker than desirable” growth.
However, the document adds that the group members are “well positioned to proactively address the potential economic and financial consequences”.
“in light of recent events, we reiterate our determination to use all the tools -monetarias policy, fiscal and structural individually and collectively to achieve our goal of strong, sustainable, balanced and inclusive growth,” he said.
there was a broad consensus that the global economy needs more growth, told reporters the United States secretary of the Treasury, Jack Lew, while the Chinese Finance Minister Lou Jiwei said that it had been easier to create consensus because as the global economic recovery is still weak. The specter of protectionism highlighted not only by the “Brexit” but also by the rhetoric of “America first” Republican presidential candidate Donald Trump, who has even spoken of withdrawing from trade agreements.
“Not only ‘ Brexit ‘but several risks to growth remain low and there was much debate about the need to monitor how events evolve with terrorism, geopolitical risks and refugees, “said an official at the Japanese Finance Ministry.
in the statement, the G20 stressed “the role of trade liberalization policies and a system of strong global trade and insurance to promote an inclusive global economic growth, and we will make more efforts to revitalize global trade and boost investment. “
spoke of stimuli such as” windfalls “said Bank of Japan governor Haruhiko Kuroda, who has repeatedly said that this is not an option we have on the table.

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