NEW YORK, Oct. 26 (UPI) -- Global economic inequality has reached a crisis point, U.N. Secretary-General Ban Ki-moon warned ahead of next week's Group of 20 Summit.
He cited growing public protests over growing global economic uncertainty and urged the leaders of the world's major industrialized and developing economies to demonstrate bold leadership to ensure sustained global development during their Nov. 3-4 Summit in Cannes, France.
"The gathering force of public protest is the popular expression of an obvious fact: that growing economic uncertainty, market volatility and mounting inequality have reached a point of crisis," Ban said in a letter released ahead of the summit. "Everywhere, people are losing faith in governments and public institutions. The G20 has an historic opportunity, and an historic responsibility, to deliver bold solutions and lead the way."
Ban called for the same "ambitious leadership" shown at the 2009 summit in London during the global financial meltdown.
Ban said the budgets of the G20 members may be stretched thin but they cannot lose sight of those who are the hardest hit, including women and children.
"Those least responsible for this turmoil are paying the highest price," Ban said. "Asking them to wait while other problems are solved is not only counter-productive but immoral. As the leaders of the world's largest economies, you can announce specific measures in Cannes to demonstrate that the interests of the poorer and most vulnerable members of our human family will feature prominently in the global response."
