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The worst economic crisis in half a century still holds us in its grip. At the G20 in Cannes, 3-4 November, solid progress was made on major issues such as jobs, taxation and financial reform, though much more needs to be done to restore confidence as we build towards the Mexico presidency in 2012.
At this Financial Regulation Session of the G20 Leaders Summit, M. Gurría spoke of 'a comprehensive reform of the international financial architecture that should include financial inclusion, protection and education'.
"At the end of the day, this is what the G20 is about: its “raison d’être” is to show leadership and equip the global economy with an efficient framework for policy coordination. And trade in raw materials and in food commodities should be no exception to this.", said M. Gurría.
The jobs crisis has three particularly worrying aspects. First, the risk of unemployment becoming entrenched is more and more real in a number of G20 countries. Second, the crisis impacts disproportionately on youth. Finally, growing inequality threatens to affect social cohesion and the living standards of vulnerable families and individuals. To deal with these threats, job creation must be restarted quickly, accompanied by stronger
At this pre-G20 Event 'Growing Economies through Women’s Entrepreneurship', A. Gurría declared that 'Girls and women represent 3.3 billion ways to change this world. This is the lemma from this year’s G20 Girls Summit. It is also a powerful truth. We need to unleash this potential.'
M. Gurría stressed the urgency of water reform, the gap between the funding available and the investment needed, as well as the difficulty to bring together the main actors from different sectors to share the risks and tasks, as illustrated by the two new OECD publications launched that day
We no longer talk about commitments to change; today, we are making change happen. We are implementing the now universally accepted international standard of transparency and exchange of information, said OECD Secretary-General.
A persistent failure to realise the potential for better water management in the face of growing pressures (population growth, urbanisation, economic development, pollution, mismanagement, floods and droughts) attests to the need for water reform in many parts of the world, said M. Gurría.
The ongoing crisis illustrates all too well the importance of trust and confidence for the proper functioning of our financial systems and, in turn, our economies. Consumers are at the heart of the system. They should feel capable, knowledgeable, safe and secure in their dealings with financial services providers and their intermediaries, said Angel Gurría.
The recent surge in social movements is a clear call for an economy with a more human face. Reconciling long-term economic growth and people’s well-being can be achieved if structural policies focus on what matters most to people in advanced and less-advanced economies alike, said Angel Gurría.