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Rediff.com  » Business » World leader should find solution for entire economy: Ban Ki-moon

World leader should find solution for entire economy: Ban Ki-moon

October 18, 2011 13:24 IST

UN chief Ban Ki-moonDuring the upcoming G-20 summit, world leaders should find solutions to the 'frustrations' of the people hit by the global economic crisis and not just focus on domestic financial concerns, UN chief Ban Ki-moon has said.

"That is what you are seeing all around the world, starting from Wall Street. People are showing their frustrations by trying to send a very clear and unambiguous message to the world," Ban said.

He asked world leaders to use the upcoming G-20 summit in Cannes to find solutions for the entire global economy and not focus merely on domestic financial concerns.

In a message to the G-20 leaders, Ban said "business-as-usual or just looking at their own domestic economic issues will not give any answers to the current very serious international economic crisis."

The G-20 leaders have a very "broad and important, crucial, responsibility to perform. . .towards the global economy," Ban, currently on a visit to Switzerland, told reporters there on Monday.

He said leaders of the developed and emerging economies should restore confidence and trust of the people and come out with a broader perspective to tackle the economic crisis.

He said the G-20 nations make up 80 per cent of the world's GDP and 85 per cent of the world's population.

"We have to really address this issue with a sense of flexibility and compromise, and come out with actionable plans," he said. Protesters inspired by the "Occupy Wall Street" movement camped out in many European cities to protests against corporate greed and state cutbacks.

From London and Frankfurt to Madrid and Amsterdam, hundreds of demonstrators pitched tents following a global day of action on Saturday and vowed to maintain their campaign.

The G-20 summit will be held on November 3-4 in Cannes, France.

Image: UN chief Ban Ki-moon

Yoshita Singh in United Nations
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