PM gets ready to head to Mexico G20

Sunday, June 17, 2012

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Prime Minister Julia Gillard is about to leave Australia to attend a crucial Group of 20 nations leaders meeting in Mexico.

Ms Gillard is expected to depart around 11am (AEST) on Sunday for the meeting being held in the Mexican resort city of Los Cabos on Monday and Tuesday.

The G20 gathering is being held against the backdrop of an ongoing financial crisis in Europe, which is threatening the stability of the European Union.

All eyes will be on Greece, where an election is being held this weekend to determine whether to endorse a conservative government committed to economic and fiscal reform or a popular radical left administration which could see Greece exit the eurozone.

Ms Gillard and South Korean President Lee Myung-bak on Saturday issued a joint statement urging "resolute action" by Europe to address the fiscal uncertainty, which is affecting the global economy.

"We need a clear message from Europe that it is taking decisive steps to stabilise and strengthen its banks," they said.

"A crucial element of restoring confidence in Europe is agreement on a roadmap for the eurozone to underpin its monetary union by a fiscal union and a banking union."

Ms Gillard will land in Los Cabos later on Sunday, where she will address a B20 business forum being held in the sidelines of the leaders' summit.

18/06/2013 14:53Sydney, Australia. 18 June,2013
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