U.S. Embassy Tallinn June 18, 2012
The Group of Twenty (G-20) Summit begins today in Los Cabos, Mexico with a goal of focusing on measures to spur global growth and employment, and mitigate near-term risks in financial markets, especially those coming from Europe.
The U.S. will continue to support its European colleagues as they articulate a comprehensive program to reinforce the institutions of the euro. At the same time, we will maintain focus on global rebalancing in order to achieve strong, sustainable, and balanced growth.
The G-20 was established in 1999 -- in the wake of the 1997 Asian Financial Crisis -- to bring together advanced and emerging economies for the promotion of sustainable economic growth and development, and within ten years was the leading forum for international economic and financial cooperation.
In previous summits, G-20 Leaders have worked together to guide the world out of the Global Financial Crisis through the reform of financial regulation and international financial institutions and to expand cooperation to include energy, anticorruption and development themes such as good governance, tax policy, food security, etc.
G-20 Summit Begins in Mexico