June 17, 2012 12:25 PM

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PM to press for resolute action on eurozone

The Prime Minister Dr. Manmohan Singh left for Los Cabos in Mexico to attend the crucial G-20 summit which has been over shadowed by the economic crisis in Eurozone, after an overnight stay at Frankfurt. The two day summit beginning tomorrow is likely to devote substantial time to deliberate on a action plan to revive growth, amidst a meltdown witnessed in several countries.

US President Barack Obama had called Prime Minister Manmohan Singh, prior to his departure to Mexico and agreed to work closely together towards a successful summit. The two leaders agreed on the importance of steps to strengthen the resilience of the global economy in response to persistent risks in the Eurozone and on focusing on measures to boost global growth.

In his Departure statement, Dr Singh expressed the hope that that European leaders will take resolute action to resolve the financial problems facing the region. Dr Singh said continuing problems in Europe would dampen global markets and adversely impact India’s economic growth. Pitching for development to be core of the deliberations in the G-20 summit, the Prime Minister stressed the need to focus on investment in infrastructure as a means of stimulating global growth.

On the sidelines of G-20 Summit, Dr Singh will have bilateral talks with Mexican President Felipe Calderon, Russian President Vladimir Putin and German Chancellor Angela Merkel. He will also be meeting French President Francois Hollande, Prime Minister of Britain David Cameron Prime Minister of Canada Stephen Harper. On the second leg of his visit, Dr Manmohan Singh be attending the RIO+ 20 Summit in Brazil. The Rio+20 Conference is likely to debate complex and contentious issues such as green economy and Sustainable Development Goals.

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