Europe’s crisis must be fixed because it is becoming a serious drain on developing countries already reeling from volatile food prices and aid cuts. But it’s not good enough for the G20 to fixate on Europe and forget about the rest of the world.
With the UN Rio+20 talks effectively at a stalemate, Oxfam today calls on the Brazilian government to provide the leadership that is so urgently needed to rescue the Rio 92 Earth Summit legacy, and chart a path toward equitable and sustainable development.
A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.
Inequality has increased in 14 of the 18 G20 countries since 1990 as economic growth has too often failed to benefit poor people.