G20 Summit: Summary in Quotes

Bush: "There was a common understanding by all of us that we should take pro-growth economic policies. Whatever we do, whatever reforms are recommended, we need to be guided by this simple fact - that the best way to solve the problem is economic growth, and the surest path to this grown is free-market capitalism.

These institutions have been very important - the World Bank and the IMF. But they were based on an economic order of 1944. The World Bank and the IMF should modernize their governance structure. They should consider extending voting powers and government structures... particularly to those that have increased their funding.

The temptation is in times of economic stress is to say that 'Trade is not worth it. Let's throw up economic barriers.' But that was rejected."

Mexico: "The international financial institutions must adopt a much more active role, supporting emerging and less developed countries so that the impact on economic activity and poverty is minimized."

Brazil: "We are talking about the G20 because the G8 doesn't have any more reason to exist, in other words, the emerging economies have to be taken into consideration in today's globalized world.

The existing multilateral organizations and the international rules in place were rejected by history. Both the IMF and the World Bank should open themselves to bigger participation of developing economies."

JAPAN:"We should firmly maintain the dollar-centred currency system... There is a voice questioning if it's stable for the US dollar of the world's largest debt country to continue to be a key currency, [but] no currency but the dollar can be used as a key currency."

RUSSIA:"We can see inadequate structures, which were created at that time, including security structures. That is why now we need more powerful ideas than the decades ago...

It will be necessary to rebuild the whole international financial architecture, make it open and fair, effective and legitimate, and by increasing the role of the existing ones it is necessary to create new collective structures of global co-ordination and regulation."