Preserving openness is crucial if the global economy is to thrive and secure its growth potential. Encouraging multilateral cooperation is a central theme of the G20 Eminent Persons Group report. It emphasises the need to firm up global financial resilience and reduce the incidence and severity of crises in order that countries do not fear openness.
We support discussing the proposals of the G20 Eminent Persons Group with an open mind in the coming months. The ECB supports further strengthening of the Global Financial Safety Net (GFSN) with a strong, quota-based, and adequately resourced IMF at its centre.