European leaders are united in their support for fiscal stimulus and anti-protectionist measures in the effort to take the global economy out of the current crisis and towards recovery, the Prime Minister has said.

Speaking after an informal EU Council in Brussels on the economic crisis, Mr Brown said he had found “complete support” for the measures that are “central to the success” of April’s G20 summit in London. Today’s meeting had marked the start of a European consensus on issues such as regulation, trade and the global financial system, he said.

The PM said:

“Today was the start of a European consensus on all these major issues that are facing the world community: yes to better regulation; yes to action on the shadow banking system and hedge funds; no to protectionism; yes to fiscal and monetary stimulus; no to maintaining the old status quo on the role of our financial institutions.”

The PM added that he would take a “clear message” to Barack Obama from all EU leaders when he travels to Washington on Monday. Agreeing on a global new deal was not just necessary but “vitally urgent” to deal with the major issues facing the world economy, he said.

Mr Brown pledged that world leaders would succeed at the London Summit and take the “big decisions” necessary to secure the world’s economic future.

Go to the EU Council website (new window)

Go to the London Summit website (new window)

http://www.number10.gov.uk/Page18475