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New Rules Needed to Dodge Financial Crisis: Australian PM
Source: radioaustralianews.net.au
Source Date: Thursday, November 11, 2010
Focus: Internet Governance
Country: Australia
Created: Nov 15, 2010

Australia's Prime Minister, Julia Gillard, says the world's big economies must adopt new financial rules to avoid another global financial crisis.

With the G20 summit underway in South Korea's capital, Seoul, Ms Gillard has outlined her priorities for the meeting.

She says the summit must endorse a new global framework to drive growth and must deliver reforms to the International Monetary Fund (IMF).

She also says the summit must adopt new financial rules which are essential to global economic stability.

"We want to make sure people have got jobs. We want freer trade, we want a stable international financial system," Ms Gillard said. "The world's been through a big crisis. We've got to make sure it doesn't happen again."

The Prime Minister today held one-on-one talks with Canadian prime minister Stephen Harper.

After arriving yesterday, Ms Gillard travelled straight to a meeting with South Korean president Lee Myung-bak, in which the two leaders reaffirmed their commitment to reach a free trade agreement as soon as possible.

On Saturday at APEC Ms Gillard will hold her first bilateral meeting with US president Barack Obama and Russian president Dmitry Medvedev. She will then return to Canberra for Parliament which resumes on Monday.
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