Canada sees G20 talks pressuring Europe, U.S.

Tue Oct 30, 2012 5:31pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Flaherty sees Mexico meeting adding to pressure

* Says U.S. must attend to fiscal cliff quickly after election

* Carney sees Europe, U.S. fiscal cliff as top concerns

OTTAWA, Oct 30 (Reuters) - This weekend's meetings of the Group of 20 leading nations are likely to keep pushing Europe and the United States to confront their debt troubles, Canadian Finance Minister Jim Flaherty said on Tuesday.

The Mexico City meetings of G20 finance ministers and central bank governors follow talks in Tokyo more than two weeks ago, which endorsed a checklist of policy reforms aimed at pressuring Europe and the United States to tackle their debt troubles.

"I hope we will continue the discussions that we had in Tokyo to encourage our European colleagues to get on with the structural reform that needs to be accomplished in Europe, including the banking union in Europe," he told reporters.

"I think we'll continue to push on that front," he said, acknowledging some progress in Europe since the Tokyo talks.

He also highlighted acute concern over the so-called fiscal cliff in the United States of huge automatic spending cuts and tax rises set to occur on Jan. 1 if Congress fails to act before then.

"I'm not even sure which American officials are going to be in Mexico City on the weekend, but we want to encourage our American friends to get on the issue of the fiscal cliff as soon as possible after the U.S. election," he said.   Continued...