Federal Councillor Widmer-Schlumpf takes positive view of the G20 Meeting of Finance Ministers in Moscow
Bern, 16.02.2013 - From 15 to 16 February 2013, Federal Councillor Eveline Widmer-Schlumpf took part in the meetings of the G20 finance ministers and central bank governors in Moscow to which Switzerland was invited for the first time. The focus of the meeting was the measures to resolve the financial crisis, namely to restructure public finances and the necessary structural reforms to stimulate growth. Switzerland supports the recommendations made by the Russian G20 presidency in this regard. In the run-up to the meeting, Federal Councillor Eveline Widmer-Schlumpf was received by President Putin. In addition, she used the occasion for bilateral talks.
The meeting took place against the backdrop of a still sluggish global economic recovery and persistent, regional uncertainties. Switzerland called for commitment to strategies to sustainably consolidate budgets. She supported the initiative of the Russian presidency for the sustainable management of and the reducing of public debt in addition to a framework for proper public debt rescheduling. She also spoke in favour of undertaking the necessary structural reforms primarily in parallel with the consolidation of public finances, so as to strengthen competitiveness. "Only more competition and not the partitioning of markets will return the global economy to growth" underlined Federal Council Eveline Widmer-Schlumpf at the closure of the meeting to the media. This also includes efficient financial market regulation. The aim is to consistently implement the internationally adopted reforms such as Basel III. This will lead to a more stable financial system and thus to more trust and investment. Finally, Federal Councillor Eveline Widmer-Schlumpf emphasised the need to take into account the members' financial contributions in the governance reform under way in the International Monetary Fund (IMF), and that international trade and capital flows should be reflected.
Switzerland will use its participation in the G20 process to actively represent itself in the coming months in the discussions at the technical and ministerial levels.
In the run-up to the meeting, Federal Councillor Widmer-Schlumpf, together with the G20 finance ministers and central bank governors, was received by President Putin. She also used the opportunity this meeting provided for numerous bilateral contacts, namely with her Russian counterpart Anton Siluanov and the German Finance Minister Wolfgang Schäuble.
In 2013, at the invitation of the Russian presidency, Switzerland is taking part in the meetings of the G20 finance ministers and central bank governors, as well as in the preparatory meetings and the working groups on financial and monetary issues. This participation underlines Switzerland's good bilateral relations with Russia and its position in the international financial and monetary system.Address for enquiries
Brigitte Hauser-Süess, Head of FDF Communications,
tel. +41 79 292 08 77
brigitte.hauser-sueess@gs-efd.admin.ch
Publisher
Federal Department of Finance
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