European leaders meeting in Berlin 22 February 2009, ahead of the London Summit, have agreed to the need for fundamental changes in the world's economic systems.
Read the summary of the Berlin G20 Preparatory Summit

At a joint press conference following the meeting the Prime Minister Gordon Brown called for a 'global new deal' to aid the recovery of the world economy and provide a set of principles for a sound future.

The 'grand bargain' would involve global economic and fiscal stimulus, global financial control mechanisms and be based on sound banking principles. It would require the strengthening of international financial institutions and help deliver a low carbon economy, he added.

The Prime Minister said:
"We are resolved that global problems need global solutions. And we will work together over these next few weeks to make sure that by our co-operation and our determination to act together we can not only inject the confidence that is necessary in the world economy but also build anew the economic activity that is necessary for the jobs, for the security that the people of the world want."
The Prime Minister will travel to the United States next week to discuss the world economy with President Obama.