G20 summit meeting in Mexico

LOS CABOS, Mexico (Reuters) - The following are highlights of comments by leaders and officials at the Group of 20 summit meeting in the Mexican beach resort of Los Cabos on Monday.

  

JAPAN FINANCE MINISTER JUN AZUMI

"The yen's rise is posing downside risks to the economy and the biggest factor lies in Europe's problems. No matter how Europe insists that it is making efforts, it would not mean much unless markets appreciate them. It's time (for Europe) to take concrete action to convince markets ... I as well as other countries said (at the G20 finance ministers' working dinner) that it's time (for Europe) to take concrete action such as unification of banking supervision."

  

BRAZIL FINANCE MINISTER GUIDO MANTEGA

On markets losing confidence in euro zone actions: "That means that the measures which are being taken are not enough to fix the problems because instead of reducing, they are increasing."

On BRICS countries contributions to the IMF, via reserves: "This will increase confidence by making sure there is more ammunition available if there is a problem." 

JAPAN PRIME MINISTER YOSHIHIKO NODA

"I welcome the Greek people's wise decision. As for G20 discussions from now on, I'd like to particularly urge euro zone to strengthen efforts to prevent (its debt crisis) contagion to the rest of the world." 

UK PRIME MINISTER DAVID CAMERON

Britain had played a big part in preventing a slide toward protectionism, "but clearly on the euro zone, we need to do more."

"There has been some progress, the firewalls are bigger, the scale of what can be done to stop contagion is greater, but the underlying problems still have to be dealt with."

"The truth is that everyone in the euro zone is going to have to take difficult decisions in order to make the system work properly and to deliver an easing of the crisis." 

CANADIAN PRIME MINISTER STEPHEN HARPER

"We're obviously very pleased that the Greek people have given a clear mandate to remain in the euro zone and fulfill the commitments they've made within the euro zone. We think that's a very positive development going forward.

"The problems of the euro zone remain very significant."

"The combination of sovereign and debt crises remain very severe. However, they are clearly within the means of European countries to deal with. What European countries need to do and what we will be looking to see are clear commitments that they are prepared to take all of the necessary actions that are within their capacity to deal with these problems, and to create the structural changes necessary to create a genuine financial union in Europe that can deal with these problems on an ongoing basis."

"Obviously growth is everybody's focus, should be everybody's focus.

That's what we really need, that's obviously part of the solution. We need to see some global growth and particularly in those areas where there are challenges we need to see growth." 

EU PRESIDENT JOSE MANUEL BARROSO

"The euro is very high, it is not a problem. It is a very strong currency. If you ask in Europe, many would like it to be a little weaker." 

SPAIN ECONOMY MINISTER LUIS DE GUINDOS

"Spain is a solvent country and a country which has the capacity to grow.

"We think ... that the way markets are penalizing Spain today does not reflect the efforts we have made or the growth potential of the economy.

"I think that European leaders are united, we know perfectly well that we are all in the same boat. We know perfectly well that we have to keep going in one direction, in the direction of making more progress towards fiscal union and banking union and there, for example, I think that decisions can be taken very quickly and we could see those in the next few days." 

GERMAN CHANCELLOR ANGELA MERKEL

"The result of the Greek election let me hope that there will be a quick creation of a new stable government. This is good news for the whole of Europe.

"The new government will and must stick to the commitments, which the country has agreed on." 

SOUTH KOREAN PRESIDENT LEE MYUNG-BAK

"The world is looking to the June 28-29 EU summit for important conclusions on the euro zone ... During the 1997 Asian financial crisis, Korea experienced large-scale corporate bankruptcies and mass unemployment, and moved quickly to restore market confidence and restructure its economy.