European Commission President Barroso and European Council President Van Rompuy made a statement on the first day of the G20 Summit in Cannes, stressing that:

  • financial regulatory reform is still at the core of G20 work; and
  • EU will continue to develop the idea of a global financial transaction tax.

They also commented after the Summit on the work of the presidency and the role of the EU. (Source: Announcement by EU Chiefs at Start of Cannes Summit)