The Group of 20 finance ministers and central bankers who ended their latest meeting Sunday in Mexico City devoted a lot of time to discussing the European sovereign debt crises and stressed the importance of the eurozone nations' forming a united front to solve problems.
Despite the potential that the European crises could spread to other parts of the world, they, regrettably, failed to agree on concrete actions for averting that risk.
They underlined that the eurozone's financial safety net must be strengthened before the International Monetary Fund is strengthened, confirming the principle that countries in an area where a crisis first occurred have a heavy responsibility to solve it.