Brazil urges rich nations to solve their own problems
Monday, 17 November 2008
WASHINGTON, Nov 16 (Xinhua): Brazilian President Luiz Inacio Lula da Silva yesterday urged the developed countries to resolve their own problems, saying this is the best solution to preventing the current financial crisis from spreading.
"The best solution for the crisis not to spread is that rich countries resolve their problems. For the first time the problems are not in the poor countries, they are in the rich countries," said President Lula, who was here attending the summit on financial markets and the world economy.
"It doesn't help to look for palliative measures if you don't resolve chronic problems of the economic policy of America and economic policy of the EU," he told reporters before joining other leaders of the Group of Twenty (G20).
Lula, who is the acting president of the G20, also called for a fairer regulation of the global financial system and the world economy.
"The best solution for the crisis not to spread is that rich countries resolve their problems. For the first time the problems are not in the poor countries, they are in the rich countries," said President Lula, who was here attending the summit on financial markets and the world economy.
"It doesn't help to look for palliative measures if you don't resolve chronic problems of the economic policy of America and economic policy of the EU," he told reporters before joining other leaders of the Group of Twenty (G20).
Lula, who is the acting president of the G20, also called for a fairer regulation of the global financial system and the world economy.