What priority to reducing the fiscal deficit to save the economy? United States and Europe competed to set the tone for the G20.

<P> Group of Twenty (G20) summit will be held on the weekend, will be competing before the United States and Europe set the tone for the theme of the meeting, U.S. Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers joint article published yesterday, advocating economic recovery .priority should be given to reducing the fiscal deficit, but Britain, Germany, France and other countries insist on promoting the deficit reduction plan, the two wrestling camps increasingly intense. .Sa cover two also appealed to Asian countries, especially China, "by strengthening domestic demand and greater exchange rate flexibility to help consolidate the global recovery." .</ P> <P> Geithner and Summers in the "Wall Street Journal," the author means: "We have to show commitment to reduce long-term deficit, but not the expense of short-term growth. If that moment did not increase the deficit will rise further weaken .capacity for future growth. "analysis refers to the statement is clearly against the European policy. .</ P> <P> the U.S. mid-term elections will be held this year in the risk of a double-dip recession, the White House repeatedly urged other countries not to hit Europe and the consumer, but most European countries turned a deaf ear, the United Kingdom announced the day before the most recent heavy-handed 30-year austerity plan .cut public spending billions of dollars and raising taxes. .</ P> <P> disclosure of German Chancellor Angela Merkel on Monday with President Obama directed at the non-telephone, reiterating the importance of fiscal consolidation. .She savings measures announced earlier next year, savings of 800 to 2014 million euros, she considered that the scheme "will not slow down the global economy." .</ P> <P> Canada and Europe, the same front </ P> <P> France announced early in the next 3 years public expenditure cuts 100 billion euros, Finance Minister Christine Lagarde declared the day before yesterday to promote cutting programs, but also suggested other measures .to come. .G20 summit host country also been sent to Prime Minister Stephen Harper of Canada urged G20 leaders to formulate a goal of deficit reduction. .</ P> <P> Geithner and Summers also urged the balance of the global economy. ."We must ensure that global growth is strong and balanced before the crisis, the United States is the world's major source of demand growth, from now on, must be multi-column support global demand." They also welcomed the increased exchange rate flexibility in China's recent decision and look forward to the implementation of the Chinese firm .. .</ P> <P> called on the EU reached a consensus exit </ P> <P> the largest ever U.S. Gulf oil spill disaster occurs, Geithner called for G20 two-phased oil subsidies. .Obama will meet British Prime Minister David Cameron during the summit, is the oil spill caused tension between the United States and Britain since the first meeting. .They call the day before yesterday, agreed that G20 must balance fiscal consolidation and growth strategy to maintain global recovery. .</ P> <P> G20 leaders of the European Union sent a letter yesterday also called on participating countries to reach a consensus on the timing of exit in order to restore confidence in the global economy. .EU and to promote global financial transactions tax, as the cost of future bank bailouts. .</ P>.