As we are constantly getting into a worse and worse position in terms of our economies, our leaders, the leaders of the European Union, are desperate to find a solution to the financial crisis. All of them have agreed on that a solution is necessary. Now it is time they found the exact method which, if carried out properly and efficiently, will be the cure for one of the major diseases our globe has been suffering from for a while.
Soon our leaders will gather around a table to discuss the problem in question as the next G20 meeting, held in April 2nd, is approaching. French president Nicolas Sarkozy said that whatever solution they would come up with at the meeting that would create a "historical responsibility". He added: "We have to succeed and we cannot accept that anything or anyone gets in the way of that summit. If we fail there will be no safety net.”
The problem is that the opinion of the various presidents and prime ministers of the member states of EU differ greatly. As current Czech Prime Minister Mirek Topolanek said: “If I put it very tenderly, the divergence in opinions was rather big. It was obvious that the four countries representing the EU in the G20 [France, Germany, Britain, Italy] do not have the same opinion on a number of issues.” Despite the differences they all agreed on that the role of the international institutions, such as the IMF, in a desperate time as this is extremely important. Also the aid these institutions can give should not come only in the form of grants. And let us not forget, as Chancellor Angela Merkel said, that it is very important for all of these institutions who play an important role in the global economy to be as transparent as it is necessary. With adequate transparency it will be easier to supervise their activities. It is a must as even in such a terrible economic downturn several managers of various companies and banks receive a decent bonus for their work even though their firms cannot really afford it since they have had a very poor performance lately.
To find a solution during the next summit will not be easy. European leaders can only speak on behalf of the entire European Union or the globe itself if they give priority to these problems instead of the problems their own countries face. Some governments have already made decisions that questioned the "union" between the member states as they have decided to move the production of the automotive industry out of Eastern-European countries. Such protectionist decisions could result in retaliation instead of friendly round table discussions which are essential to an appropriate stragegy.
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