G20 IN ST ANDREWS "VITAL TO WORLD ECONOMY" - SMITH

12.00.00am GMT Sat 7th Nov 2009

North East Fife's MSP Iain Smith has described the meeting of the G20 Finance Ministers in St Andrews as "vital to the world economy".

Speaking as the conference gets underway in his constituency, Iain Smith who is also the Convener of the Scottish Parliament's Economy, Energy and Tourism Committee said:

"St Andrews is no stranger to the international spotlight and any economic benefit to the local area will be welcomed by all.

"This conference is vital to the world economy. The G20 Finance Ministers and Bank Governors from the world's wealthiest countries must continue to work together to plot a way out of the global financial crisis.

"It is important that they recognise that it was the people who bailed out the banks and the people want action to ensure that there is no relapse of the financial heart attack we have just witnessed."

"The G20 is not just about world finance but it has a critical role to play in how we all tackle climate change. The Summit in Copenhagen next month will hopefully be the catalyst for international action and the Ministers gathering in St Andrews must also commit the necessary funds for the global effort to be a success."