EU President Barroso: Europe will push its values at G-20 summit

But the G-20 must also commit to coordinated exit strategies when the time comes, to get government finances back to health. And G-20 members must take responsibility for rebalancing global growth and demand to help prevent future crises.

There should be a strong role for the International Monetary Fund. We have now delivered the promise made at the London summit of $500 billion of new resources at the IMF's disposal. The EU will be providing over a third of this. The Pittsburgh meeting must put more flesh on the IMF's reinforced surveillance role.

The G-20 must also make progress on reforming IMF quotas and representation. All the world's largest economies should have a voice commensurate to their size. They must also shoulder the responsibilities that go with that.

Europe will be pushing hard for significant progress in the fight against climate change. If we do not win that fight, economic progress will ultimately count for nothing. We are less than 80 days away from the Copenhagen climate change conference in December, and it is time to get serious. I am worried about the lack of ambition in the negotiations.

To make progress, we need to talk figures. We have already put on the table our ideas on climate finance. Others must contribute proportionately. This is not the time to hold our cards close to our chests.

Europe's message to the developing world is that if you are serious about the challenge of cutting emissions, we will be there to help. Not with a blank check, but with a fair proposal.

Our message to the developed world on climate change is that we need to make a credible financial commitment to the developing world together with our own mitigation commitments. The equation is straightforward: No money, no deal. But no action, no money!

We need to put in place a proper global carbon market, not as an optional extra but as a prerequisite for turning commitments into cuts in emissions.

The text that is currently on the table contains 200 pages with a feast of alternatives and a forest of square brackets. Let's be clear: If we do not sort this out, it risks becoming the longest suicide note in history.

The message I will bring to my fellow members of the G-20 in Pittsburgh is straightforward. We must inspire the world with our vision of a future where open markets and the freedom to create wealth are framed within clear ethical and environmental principles, backed by strongly enforced global rules.

Jose Manuel Barroso is president of the European Commission, the executive branch of the European Union.© 2009 Voice/Global Viewpoint Network. Distributed by Tribune Media Services.

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