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FT: Transcript of Interview with Angela Merkel

November 9, 2010

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In this Financial Times interview, Angela Merkel discusses the upcoming G20 Summit in light of the stagnated global economy and provides insight on the Eurozone's economic stumbles and efforts to recover.

Financial Times: Can we begin with G20 summit in Seoul? I have the impression that the G20 is divided into two camps: debtors and creditors. How can one forge a new consensus?

Angela Merkel: For a start, I think the G20 is a very interesting size, because it brings together the traditional industrial countries and the emerging countries, which means that a good three-quarters of global net product is sitting at one table. We can work well together in this framework, and especially in the global economic crisis, the G20 has proved its worth.

Now that we are hopefully moving again towards sustainable global growth, the challenge is to develop the G20 further as an institution. That task begins now, and will be the main task of the French presidency in the coming year.

The member states are all in different situations. It’s true that many industrialised countries have a high level of public borrowing, and other countries have substantial assets. But this difference is not decisive in G20 co-operation.

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