After Washington Summit, world leaders representing 85% of the world's output meet in London on April 2nd 2009, in order to push further economic reforms and a global plan for economic recovery. On the Agenda, key issues are at stake so that the leading economies move together and lay the foundations for a sustainable economic recovery and reach an economic partnership.

The G20 London Summit was preceded by the G20 Washington Summit that took place on November 14th and 15th 2008 in Washington, D.C., as a result from an initiative by Presidents Barroso and Sarkozy. In Washington Summit, leaders achieved general agreement on how to co-operate in key areas in order to strengthen economic growth, deal with the financial crisis, and avoid similar crises in the future.

The follow-up G-20 Summit taking place in London on April 2nd 2009 aims to turn this consensus into a series of concrete actions. At the Summit, countries need to come together to enhance global coordination in order to help restore global economic growth. World leaders must make three commitments:

• First, to take whatever action is necessary to stabilise financial markets and enable families and businesses to get through the recession.
• Second, to reform and strengthen the global financial and economic system to restore confidence and trust.
• Third, to put the global economy on track for sustainable growth.

In the European Union view as agreed at the European Council the G20 Summit's main objectives should be: promotion of return to economic growth; management and prevention of global crisis; better regulation of financial market; support for developing countries in response to the crisis.

President Barroso highlighted that “the G20 must take a holistic and ambitious approach. That is the only way the world can get out of this crisis without risking a worse crisis in future. The G20 is not going to choose between items on a menu. We need both a coordinated fiscal stimulus and progress on financial regulation. At the same time, we must resist all forms of protectionism. And we must meet our commitments to developing countries. We must also boost both the governance and the resources of the IMF and other international institutions. This summit alone will not end the crisis. But it will be a very important step on the road to confidence and recovery and also towards global institutions for the 21st century."