8 Jul 2009

Global economic recovery still fragile - Rudd

11:35 am on 8 July 2009

Australian Prime Minister Kevin Rudd has warned of the fragile nature of the global economic recovery.

In a speech in Berlin, he said the so-called "green economic shoots" referred to by politicians and economists were vulnerable, and further coordinated action would be needed, especially amongst the nations of the G20.

Mr Rudd warned they were not yet a reason for complacency. "We are by no means out of the woods yet," he said.

He warned not to expect miracles from the Major Economies Forum at the G8 in Italy, where he is heading next.

Mr Rudd said the G20, rather than the G8, is the best mechanism for coordinating a global response to the financial crisis.

German Chancellor Angela Merkel agreed with Mr Rudd, saying the G20 was better suited than the G8 to tackle major world issues like climate change and the financial meltdown.

She greeted Mr Rudd with a full ceremonial welcome.

The ABC reports their talks concentrated on two issues: how to climb out of the global financial crisis without stumbling and the issue of climate change - how to convince everyone it is their problem and has to be dealt with.