Jose Manuel Barroso, president of the European Commission, said here on Friday that he is "particularly happy" with the decisions taken at the Group of 20 (G20) summit that just concluded in Pittsburgh, the US state of Pennsylvania.

"The G20 has shown its worth by helping to avoid an economic meltdown," Barroso said in a statement following the conclusion of the two-day summit on Friday afternoon.

However, he warned fellow leaders in the G20 that it was no time for complacency or a return to business as usual, as the world was not yet out of the financial and economic crisis with many people still out of their jobs.

It was time for delivery and a new global order reflecting the reality of economic interdependence, said the chief of the European Commission, the executive branch of the European Union (EU).

In the statement, Barroso said G20 leaders had established the foundations for global rules which would allow the world to prosper through open markets and resist the temptation of protectionism, agreed to tighter coordination of their main economic policies, and agreed to rein in exorbitant bonuses and hold international finance to account.

"But we will only achieve a full and sustainable recovery if we also tackle climate change and kick-start trade," he said.

The two-day G20 summit ended after adopting a series of decisions. The leaders agreed to implement aggressive plans to promote a sustainable recovery of employment, to strengthen support for emerging and developing countries, to strengthen international financial regulatory system, and to maintain measures to support economic activity until recovery is fully assured.

In a statement issued after the summit, the leaders said they had designated the G20 to be the premier forum for international economic cooperation.

(Xinhua News Agency September 26, 2009)