G20 LIVE: The European Sting covers online world news and the latest developments at G20 from Antalya Turkey

g20_logo_Antalya

Just a few hours now separate us from the G20 Leaders’ Summit in Antalya, Turkey. The Sting’s extensive editorial team is being installed now at the beautiful summer resort of Antalya in the Mediterranean sea. Populous delegations of the 20 most powerful nations and economies of this world are effectively on their way to Antalya to have a two day meeting over a hot long weekend, on 15-16 November, in order to pretty much shape the world’s fate in 2016, at least.

The European Sting will be following the flow of G20 news very closely for the next couple of days and bringing to its prominent readers the unique privilege of insightful and original LIVE and constant coverage from the International Media Center at Belek, Antalya. The agenda is strictly confidential at this point and we are not allowed to share further information. However, being a top class Brussels-Based EU media, we will be focusing very much on the EU’s early presence and role in the decisions made on global issues. Certainly we will be monitoring the evolutions for the European countries participating at G20: Germany, UK, France and Italy. What is more, we will be covering as well the news for major global players, of the developed world, from the US and Japan to the developing world, from China to Brazil and Indonesia.

So, if you do crave for original LIVE G20 coverage and LIVE Video streaming from Antalya, you’d better stay tuned this weekend, 15-16 November, at http://www.europeansting.com and its dozens of social media!

Coming back to the EU, the G20 priorities set for Europe and set by President Juncker and Tusk over the coming weekend are as follows:

1. The G20 must support a collective response to the refugee crisis

Meeting in Turkey in the midst of a refugee crisis due to conflicts in Syria and elsewhere, the G20 must rise to the challenge and lead a coordinated and innovative response to the crisis that recognises its global nature and economic consequences and promotes greater international solidarity in protecting refugees. The G20 has a specific responsibility to ensure that international organisations assisting refugees have the necessary financial means. We will work closely with the Turkish Presidency to ensure a concrete outcome.

2. The jobs, growth and investment agenda is central

The recent financial market tensions and the slowdown in emerging market economies are a reminder that the global economy remains vulnerable. There is a clear need to continue a cooperative approach at the G20 level on global macroeconomic policies, with the aim of strengthening the recovery, lifting potential growth and enhancing financial resilience.

The main deliverable for Antalya should be the updated G20 growth strategies and corresponding employment plans. We support the focus of the Turkish G20 Presidency on implementation in order to support the 2% growth ambition agreed in Brisbane last year.

We will underline that investment is a top priority for the EU, in line with the Investment Plan for Europe and the work on building a Capital Markets Union. The continuation of the G20 investment agenda is therefore very welcome and supports our efforts at home. We will place particular emphasis on the quality of private and public investment. The main deliverables from the Antalya summit on investment and infrastructure should be: (1) the new G20 investment strategies; (2) the SME action plan; (3) the work on improving financial intermediation, including simple and transparent securitisation; (4) further efforts to make optimal use of Multilateral Development Banks’ capital.

We will also aim to keep financial regulation high on the G20 agenda.The key outcome in Antalya will be the finalisation of the Total Loss-Absorbing Capacity standard for global systemically important banks on the basis of the on-going comprehensive impact assessments. It will be important to ensure that this new global standard gives the necessary recognition to the EU resolution framework that has become effective this year and will be fully implemented in 2016. The G20 should take the collective decisions that are necessary to prevent another crisis such as the one from which we are emerging.

3. Collective efforts are needed to ensure youth employment and social inclusion

Youth employment remains a top priority for the EU and we will support the adoption of a G20 target to reduce by 15% by 2025 the share of young people who are most at risk of being left permanently behind in the labour market. The G20 should continue to promote more equal economies and fairer societies, strengthen social cohesion and better integrate vulnerable and disadvantaged groups into the economy and the labour market. Therefore we welcome the discussions on the long-term trend of rising inequalities in many G20 economies and how to tackle them to achieve stronger economic growth and create better jobs.

4. Moving forward the G20 work on tax transparency

In Antalya, there should be an ambitious agreement to take further global actions necessary to tackle cross-border tax avoidance and tax evasion, including on the finalisation and implementation of the Base Erosion and Profit Shifting action plan (BEPS).

The G20 should in particular show political leadership on the issue of harmful tax competition and the exchange of information on cross-border tax rulings to enhance transparency. The OECD recommendations on the automatic exchange of information on tax rulings have been published. The EU has shown leadership. With its proposal on the exchange of information on cross-border tax rulings of 18 March, the Commission has launched a discussion within the EU on a measure that is consistent with the OECD recommendations but has a wider scope. EU Finance Ministers have reached agreement on this proposed legislation on 6 October. As a front runner in this area the EU wishes to set an example and encourage speedy and comprehensive action in the field of BEPS. We will therefore promote our ambitious approach at the G20 level. The Antalya summit should emphasise the importance of the exchange of information between tax administrations on taxpayer specific rulings.

5. The G20 has to provide political momentum for trade opening

Trade has a huge potential to drive employment, growth and development. However, global trade has slowed down markedly and grown less than global economic activity. Unfortunately, a comprehensive deal on the Doha Round – which the EU has been strongly supporting – doesn’t seem attainable. In Antalya, the G20 must therefore instruct negotiators to find a solution for the WTO Ministerial Conference in Nairobi on a meaningful set of issues to the benefit particularly of least-developed countries as well as on continuing work after Nairobi through new approaches on those issues that remain outstanding. At the same time, the G20 should welcome regional and bilateral trade agreements that comply with WTO rules and consider how they could serve as building blocks for future multilateral negotiations. We will also keep up the pressure on G20 members who should roll back the protectionist measures put in place in the aftermath of the crisis. Last but not least, the G20 should better explain the benefits of trade to citizens.

6. The G20 should seek a strong outcome in the UN negotiations on climate change

This year is pivotal for international action on development and climate change. We will urge the G20 to work together closely with our partners to implement the UN 2030 Agenda for Sustainable Development and maintain its efforts towards global food security. The G20 will have to show particular determination to conclude at the UN Climate Change Conference in Paris a robust, ambitious and inclusive agreement to govern collective climate action after 2020. We have to rally around the vision of a resilient and decarbonised global economy in the long term and show resolve to mobilise required resources, especially for the poorest and most vulnerable countries, as was the case at the Elmau G7 Summit in June. To put the right incentives in place to meet our goal of limiting global warming to below 2 degrees Celsius, we will also push for a phase-out of fossil fuel subsidies. Moreover, we will seek closer cooperation within the G20 on renewable energy and energy efficiency.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Syria’s groundbreaking constitutional talks: ‘a clear success of mediation’ says Guterres in Turkey

10 million Yemenis ‘one step away from famine’, UN food relief agency calls for ‘unhindered access’ to frontline regions

“911, What’s your emergency?”

Nearly a third of the globe is now on Facebook – chart of the day

Climate change is forcing 20 million people a year from their homes, Oxfam says

4 ways Africa can prepare its youth for the digital economy

Germany objects to EU Commission’s plan for a Eurozone bank deposits insurance scheme but Berlin could go along

Alcohol abuse kills three million people a year, most of them men – WHO report

2013, a Political Odyssey: What future for Italy?

This is why mental health should be a political priority

Commission welcomes European Parliament adoption of EU4Health programme

Commission welcomes agreement on the modernisation of EU export controls

7 ways to break the fast fashion habit – and save the planet

ECB again to subsidize euro area banks with more than one trillion euro

Thomas Cook bankruptcy: Better consumer and employee protection needed

MWC 2016 LIVE: Ingenu steps up efforts to build LPWA networks across the globe

Greener tourism: Greater collaboration needed to tackle rising emissions

How digital entrepreneurs will help shape the world after the COVID-19 pandemic

MEPs back plans to promote water reuse for agricultural irrigation

The ECB proposes a swift solution for SMEs’ financing

Working fewer hours makes you more efficient. Here’s the proof

COVID-19: A coordinated EU health strategy needed, say MEPs

‘BioSolar Leaves’ are better at cleaning the air than trees, say the technology’s developers

EU leaders agree to delay Brexit until 31 October

Yemen war ‘a test of our humanity’, and we’re ‘badly failing’ warns UN Children’s Fund chief

German Presidency outlines priorities to EP committees

The refugee crisis seen through the eyes of a young doctor from Turkey

EU, Latin America and the Caribbean: Partnering for prosperity, democracy, resilience and global governance

Collective action to enable sustainable growth will be critical to end tropical deforestation

Adoption of new rules to better protect children caught in cross-border parental disputes

Arrest of three Libyans wanted for grave crimes ‘would send strong and necessary message’ to victims, urges top Prosecutor

State aid: Commission approves around €36 million Romanian rescue aid to state-owned flag carrier TAROM

COVID-19: from the chaos of the pandemic to the difficulties in vaccination

Ecofin: ‘The Friday battle’ for the banking union

Haiti cholera outbreak ‘stopped in its tracks’

The UK option: An overarching alternative for the whole Brexit options

Security Council gravely concerned by Ebola outbreak in DR Congo, demands immediate end to violence hampering response

Here’s how to achieve growth in the Middle East and North Africa

Civil society groups matter for Cambodia’s sustainable development: UN expert

European Institute of Innovation and Technology: Commission welcomes political agreement on strategy for 2021-2027

The von der Leyen Commission: for a Union that strives for more

Number of MEPs to be reduced after EU elections in 2019

The challenge of palliative care in universal health coverage

The world needs carbon-neutral flying. Here’s how to bring it one step closer

Facts, not fear, will stop COVID-19 – so how should we talk about it?

Concorde is a reminder that the only way for innovation is up

Parlamentarians to “break up” with reality in the Google antitrust case

Implementation of tax transparency initiative delivering concrete and impressive results

The world has made spectacular progress in every measure of well-being. So why does almost no one know about it?

EU guidance on the handling of visa applications from residents of Ukraine’s Donetsk and Luhansk regions

MEPs to prioritise environment and climate action in next long-term budget

GDP growth slows in most G20 economies in third quarter of 2019

This is why retail is such a sore point in India-US trade relations

Khashoggi murder trials must public and meet international standards, UN expert urges

UN chief seeking ‘renewed commitment’ to global rules and values, as world leaders head to New York

Agriculture and Fisheries Council

A reality check on inclusive innovation

Austerity lovers to put a break on Renzi’s growth vision for Europe? the Sting reports live from World Economic Forum 2015 in Davos

This man is turning cities into giant sponges to save lives

4 key trends on how COVID has impacted women in business

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s