Spain to participate in G20 finance summit

11th November 2008, Comments 0 comments

EU President invites Spain to the 15 November G20 meeting in Washington.

11 November 2008  
MADRID - Spain will take part in the 15 November G20 summit in Washington, the European Union's French presidency said late Friday.
French President Nicolas Sarkozy earlier told journalists, after a meeting of EU leaders in Brussels to prepare the Washington summit, that Paris has two seats at the 15 November  meeting, one for France and one for the EU's presidency.
"It's not a problem that Spain takes one of the two seats," he said.
Spain will join Britain, France, Germany and Italy among European representatives, after the world's eighth largest economy was left out of an informal meeting of leaders of these four countries called in October to tackle the global financial crisis.
Sarkozy also wanted the Netherlands to attend the Washington gathering.
The White House said attendance will be limited to the Group of 20 richest nations and biggest emerging economies.
"This is a meeting that was called by (US President) Bush and it is up to him, in dialogue with the European Union, to take the necessary decisions," Spanish Prime Minister Jose Luis Zapatero said.
Created in 1999, the Group of 20 accounts for 85 percent of the world economy and about two-thirds of the world's population.
It comprises the seven major industrialised nations -- Britain, Canada, France, Italy, Japan, Germany and the United States -- and Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey.
It also includes the 27-nation European Union, of which both Spain and the Netherlands are members.

[AFP / Expatica]

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