G20 leaders must compromise to solve crisis - U.N.'s Ban
BERNE (Reuters) - U.N. Secretary-General Ban Ki-moon urged G20 leaders on Monday to look beyond their own domestic issues and take action to tackle the international financial crisis to regain the trust of financial markets.
"G20 leaders have the responsibility to perform," Ban, who will attend the G20 summit in Cannes in November, told a news conference in Berne following an assembly of the Inter-Parliamentary Union (IPU).
"To restore confidence and trust from the people, from the market, the leaders should look beyond their national borders and should not haggle over domestic, regional interests. They have to come out with a broader perspective," he said.
"Leaders should address this issue with a sense of practicality and compromise and come out with actionable plans."
Finance ministers and central bankers of the Group of 20 major economies pressed Europe on Saturday to act decisively within eight days to resolve the euro zone's sovereign debt crisis which is endangering the world economy.
Countries outside the euro zone have warned of damage the European crisis was already doing to their economies and underlined the urgent need for action by the 17-nation single currency area.
(Reporting by Caroline Copley)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.