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October 1st, 2011 
FAKE NEWS for the Zionist agenda
AAP
Australia will push hard to ensure G20 leaders deal decisively with the European sovereign debt crisis when they gather for a critical summit in November.
Foreign Minister Kevin Rudd on Friday declared the G20, which brings together the world’s 20 biggest economies, the best vehicle for dealing with the latest global economic emergency.
Mr Rudd said the G20 had prevented the 2008-09 global recession from becoming a full-blown depression and called on leaders to deliver big when they meet on the French Riviera.
“The times are pressing. Action is needed,” Mr Rudd said in a speech to the University of Queensland.
“It is imperative that the world succeeds at Cannes. Australia, for its part, will be throwing everything at it.”
As prime minister, Mr Rudd was instrumental in convincing world leaders to embrace the G20 as the principal economic decision-making forum in the world, thereby superseding the G8.
It now lies at the “absolute core” of Australia’s foreign policy, he said.
“With its membership and structure the G20 is the optimal – albeit imperfect – platform to address these challenges,” he said.
“And now, under no circumstances, can we allow it to falter. We have too much at stake. So too does the world.”
The Cannes summit – to be attended by Prime Minister Julia Gillard – should produce a credible political commitment to address the key vulnerabilities in the world economy, Mr Rudd said.
Major economies need credible but carefully-calibrated plans for fiscal consolidation, a return to surplus and a shift in demand from public to private, he said.
The summit must also give fresh momentum to already-agreed financial regulatory reforms.
The G20’s credibility will rise or fall based on its ability to deliver the guidance and action the global economy needs, and markets in particular will expect strong leadership, he said.
Greece is currently teetering on the edge of default and other eurozone nations such as Portugal and Ireland are facing significant budgetary challenges.
The International Monetary Fund’s latest forecasts indicate that global growth will slow to four per cent this year.
“While our region continues to grow strongly and has many underlying strengths, we will not be immune from the growing crisis of confidence in the North Atlantic economies,” Mr Rudd said.
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