Key nations are set to tackle pressing economic and environmental concerns next week as the G20 and the United Nations successively host global summits that will bring together global economies in hope of resolving the world's prevailing problems.
On top of the twin summits' agenda is the ongoing effort to ease the credit pressure in Europe, which Prime Minister Julia Gillard has suggested earlier this week could be done through sustainable intervention.
Ms Gillard will attend the gatherings in Brazil and Mexico and is expected to put heavy emphasis on policies that embrace economic growth while promoting fiscal discipline at the same time.
Buoyed by her country's good economic standing so far, Ms Gillard has been pressing on G20 members to support programs that will "promote European growth alongside fiscal sustainability."
While she acknowledged that the Euro crisis was too complicated for an easy fix, the rest of the world cannot force on the region's ailing economies to implement measures that could spur social instability.
"Austerity alone is not the right path," the Australian Associated Press (AAP) quoted Ms Gillard as saying this week in stressing that economic problems must be addressed with firm goals of attaining balanced global growth.
Analysts said that Australia is in a strong position to assert its stance in the G20 economic forum in Los Cabos as Ms Gillard come to the Mexican city brandishing steady growth pace that her Labor has been presiding over the domestic economy since it assumed power in 2007.
While much of the world were battered by recessions in 2008, Australia was pretty much insulated by the crunch thanks much to its resource boom, which to date serves as the backbone of Canberra's economy that currently boasts of manageable inflation levels, low jobless rate and expansion plans.
The latter Ms Gillard was proud to maintain despite the perceived economic challenges across the globe, which in the local settings her government deals with strict fiscal discipline as stipulated in the 2013 national budget that aims to realise savings of more than $40 billion.
Her Labor government also aims to deliver $1.5 billion in budget surplus, which Ms Gillard said will provide more room for Australia's economy policy makers to unleash growth-inducing measures.
The whole shell of Labor's economic agenda supports economic growth and austerity at the same time, Ms Gillard said, which she stressed can be applied to the European setting.
That is if Euro leaders could muster the sufficient courage to roll out the painful answers in full measures, according to Federal Treasurer Wayne Swan.
"What is required in Europe is the political will to act ... and we would like to see more decisive action from our counterparts in Europe," Mr Swan was quoted by AAP as saying in a recent speech.
On the environment front, Australia is also expected to take the lead role on the UN's environmental meet in Rio de Janeiro as Canberra sets the stage on global initiatives to reduce carbon emission through its fixed-carbon pricing that is set to take effect July this year.
Under pains of political defeat next year, Ms Gillard enthusiastically pushed for Australia to adopt carbon tax, which in turn afforded her the moral ground in urging nations to seriously consider the reconfiguring of their economies on green foundations.
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