G20 leaders agreed on the Los Cabos Action Plan for Jobs and Growth in order to address key weaknesses in the global economy. Also the G20 meeting was particularly focused on the situation in the Euro area. Among other things, G20 leaders recognised the value of the European project and of the EU's currency, the Euro.

President of the European Commission, José Manuel Barroso and President of the European Council, Herman Van Rompuy, published a statement highlighting the main results of the G20 meeting celebrated the 18-19 of June in Los Cabos, Mexico. According to them, at this summit, G20 leaders showed strong resolve to promote growth and jobs and the EU made an important contribution, setting out its sustained, crisis comprehensive response and policy action. Already in the G20 summit celebrated in South Korea, EU called for coordinated action in order to tackle imbalances.

A special focus was given during the summit to the situation in the Euro area. G20 leaders recognised the value of the European project and of the EU's currency, the Euro. They welcomed the measures taken in Europe to stabilise our economies and our financial system and expressed support for our intention to move ahead with deeper economic and fiscal integration. Barroso and Van Rompuy stressed that the monetary union needs to be completed by a more integrated economic union which is now recognised by the EU partners. They also added that the EU is determined to show the irreversibility of the euro and of the European project.

In addition, the summit ended with a joint commitment from Spring 2012 to increase the IMF's resources. The European Union, as the largest contributor to the IMF, has already shouldered €240 billion which is around half of the overall increase. The role of the IMF as a global financial safety net and driver for reform is further reinforced and will benefit countries in need across the world. Moreover on the European Union's insistence, the Toronto standstill commitment for protectionist measures has been prolonged. The G20 also expressed its intention to further strengthen the multilateral trading system.