Brown: Europe has agreed its economic aims

(londonsummit.gov.uk)
Updated: 2009-03-25 17:07

Commenting on the outcomes of the Spring European Council meeting during a statement to the House of Commons on Monday 23 March, UK's Prime Minister, Gordon Brown, confirmed that the EU will put measures to the G20 next week which it hopes will lead to global economic recovery and better financial regulation.

Gordon Brown told MPs that Europe has agreed its economic aims ahead of the London Summit. He also said leaders had agreed to avoid protectionism, promote international trade and call for a swift conclusion to the Doha trade negotiations.

He added that the EU also wants all 'systemically important' financial institutions to be subject to regulation and to create international principles on bonuses for those working in the financial sector.

Addressing MP's he said:

'The Council is clear that by acting together, the European Union can put its financial sector on a sound footing, get credit flowing to the real economy and protect its citizens from the worst impacts of this crisis, as well as helping to build a stronger economy for the future.'

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