At this summit, G20 leaders showed strong resolve to promote growth and jobs and the EU made an important contribution, setting out its sustained, crisis comprehensiveresponse and policy action.
We addressed key weaknesses in the global economy.
On this basis, G20 leaders agreed on the Los Cabos Action Plan for Jobs and Growth,which is a concrete expression and recognition of the need for joint action to remove obstacles to growth and rebalance the global economy.
There was a focus on the situation in the Euro area in our discussions. G20 leaders recognised the value of the European project and of the EU's currency, the euro. They welcomed the measures taken in Europe to stabilise our economies and our financial system and expressed support for our intention to move ahead with deeper economic and fiscal integration. This is an encouragement for the EU. A common currency needs more common policy. Our monetary union needs to be completed by a more integrated economic union. Our partners have recognised that a strong, deeply integrated European Union is decisive for systemic global stability. This recognition mirrors the momentum which is now building in Europe. The EU is determined to show the irreversibility of the euro and of the European project.
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