(MENAFN- The Journal Of Turkish Weekly) Turkey's deputy prime minister says international bloc will not get involved unless asked by the EU.
Turkey's Deputy Prime Minister said Friday that the G20, currently led by Turkey, would not get involved in Greece's debt crisis without a request from the European Union, European Central Bank and International Monetary Fund.
"The Greek economic circumstances were not part of our official discussion agenda," said Ali Babacan. "First of all, it is Greece, European Union, European Central Bank and IMF which are the counterparts of the official discussions, and unless there is a demand from those parties to bring this to the agenda of G20, it would not be very appropriate to have it as a G20 issue."
Babacan's comments came during a press conference following a meeting of G20 finance ministers and central bank governors in Washington on the sidelines of the annual World Bank and IMF spring meetings.
Athens has been trying to secure a deal with its IMF and EU creditors to ease bailout terms that lenders imposed.
Babacan, however, acknowledged that the EU and IMF are strong enough to discuss solutions for the financial crisis that Greece has been engulfed in since the late 2000s.
Greece is not a member of G20 bloc € an international forum for the governments and central bank governors of 20 major economies, including the European Commission, the executive body of the EU.
Although it was expected that Greece's debt crisis would be raised during the meeting, it was not mentioned in the communiqué released following the meeting.
The deputy prime minister said the leaders exchanged views on the global outlook and risks facing the global economy as well as the global policy response to challenges.
Recovery from financial crises that rocked the global economy since 2008 has continued but with moderate and uneven paces, he said.
Volatility in exchange rates, prolonged low inflation, high public debt and geopolitical tensions pose some downside risks for the global economic outlook.
"Under these circumstances we have reaffirmed our resolve to boost confidence and reduce vulnerabilities through effective implementation of macro economy policies and structural reforms," Babacan said.
As chair of the G20, Babacan said Turkey has identified policies to implement that were adopted during previous G20 meetings, work to increase investments and inclusiveness with respect to financial instruments and policies that address different segments of the global economy, including small and medium entrepreneurs, or SMEs, women and youth.
"Under the inclusiveness agenda we have also announced a new engagement group, W20 or Woman 20," he said. "This will be representatives from 19 countries and the EU working on how to effectively engage women into business covering women entrepreneurs."
He also said that Turkey has set a World SME Forum as a mandate to provide advocacy and know-how to SMEs around the world.
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