G20 finance ministers
Saturday in a final statement will re-affirm their commitment to
avoid competitive devaluations and underline that exchange rates
are not economic policy objectives in themselves, conference
sources said Friday.
While China is not expected to be cited specifically the
explicit reconfirmation of the 20's commitment on exchange rates
evidently will be a signal for markets and a reply to fears
raised by Chinese moves in recent weeks, said the sources.
The EU Economic Affairs Commissioner Pierre Moscovici for
his part said "I have full confidence in the capacity of Europe
to deal with factors of uncertainty that may arrive from the
world economy".
Speaking to Rainews 24 on the fringes of the G20 meetings,
he noted that the summit is focussed "on China and the USA"
while the EU, after months of difficulty "no longer causes
concern and is seen instead as a factor of stability" thanks to
reforms and growth that is "modest but sufficient to reduce
unemployment".
Moscovici will meet Saturday with Italian Treasury Minister
Pier Carlo Padoan, Moscovici said at the end of the first G20
session with labour ministers. "I will see Padoan tomorrow," was
all Moscovici told reporters.
Nevertheless it is the first such meeting since the
controversy of recent days over EU officials in Brussels'
reported scepticism over Italian Premier Matteo Renzi's pledge
to cut property taxes.
ALL RIGHTS RESERVED © Copyright ANSA