G20 Summit; West-Russia tension dominate discussion

By admin on 15/11/2014

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The G20 Summit comprising of leaders from world's strongest economies has started in the Australian city of Brisbane, with the crisis in Ukraine expected to take the centre-stage.


The two-day summit,promises to be a showdown between Western leaders and Russian President Vladimir Putin, amid fresh reports of Russian troops pushing into eastern Ukraine.


British Prime Minister David Cameron, at a press conference in Canberra on Friday faulted Russia's actions as "unacceptable", while warning they could draw greater sanctions from the United States and the European Union.


Though Russia has denied sending troops and tanks into Ukraine, but increasing violence, truce violations and reports of unmarked armed convoys travelling from the direction of the Russian border have aroused fears that a shaky September 5 truce could collapse.


The G20 leaders summit in Brisbane is focused on boosting world growth, fireproofing the global banking system and closing tax loopholes for giant multinationals.


But with much of the economic agenda agreed and a climate-change deal signed last week in Beijing between the United States and China, security concerns are moving to the forefront.


Aside Ukraine, the crises in the Middle East seem to have overshadowed the economic agenda.


Australia is  also pushing for an increase in global growth targets of two percent by 2018 to create more of jobs.


The G20 comprises of 19 countries  including Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey and the United States - and the 28-member European Union.


The group accounts for 80 percent of world trade and 85 percent of global economic production.


Posted on November, 15 2014

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