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Cannes, France. Indonesia hopes the summit of the heads of the Group of 20 leading global economies will focus not only on Europe’s woes, but also seek a long-term strategy to protect global growth.

“Indonesia agrees that the euro zone needs to be given attention, but in the long term, the global economy should be addressed. We want to see that developing countries will continue to be able to grow,” Finance Minister Agus Martowardojo said.

Addressing a press conference in Cannes, Agus said financial stimulus was necessary to ensure the future prosperity of the world economy.

Agus said he believed the issue of the European and global economy would dominate the talks, especially since Greece had planned to hold a referendum on the austerity move needed for the country to survive the economic crisis it faces.

But the prospect of a referendum was brought into doubt late on Thursday when Greek Prime Minister George Papandreou, in a speech to the Greek Parliament, appeared to back away from his proposal earlier in the week. President Susilo Bambang Yudhoyono, talking to journalists in Cannes on Thursday, said that he intended to drive his point home during the summit.

“The G-20 forum should not be dominated by the problems of the European zone because there are dozens of developing countries that need to have their economy given attention,” he said.

Papandreou’s initial proposal to put the hard-fought bailout package to a vote dominated the lead up to G-20.

The move triggered turmoil in financial markets as investors fretted over the prospect of a default and the country’s exit from the euro zone.

Yudhoyono said that the point would be one of 15 he has prepared to bring to the discussions between the leaders at the gathering. “Indonesia will also propose a reduction in the deficit-debt ratio, to work against protectionism in global financing, and for sustainability of trade and investment between countries,” he said.

Agus said that Indonesia will demand global financial organizations such as the International Monetary Fund and the World Bank not placed too much focus on the euro zone so that a global economic balance could be maintained.

“We will prepare Asean to act as a motor for the development of the world economy,” Agus said, referring to the 10-member Association of Southeast Asian Nations, of which Indonesia is the current chair.

He said that six economies currently deemed strong — Australia, Canada, China, Germany, Indonesia and Japan — should be at the forefront of efforts to stimulate global economic expansion. “These six countries are being called upon by the leaders of the world to provide stimulus to expand and strengthen the economy,” he said.

Deputy Finance Minister Mahendra Siregar said Yudhoyono would wear two hats during the G-20 summit, speaking for both Indonesia and for Asean.

Mahendra said that Indonesia would push the G-20 to not only try to settle the crisis faced in the context of stability, but to also push for balanced world economic growth. Indonesia will also try to contribute to the world economy by strengthening its domestic economy, he added.

World leaders, including Yudhoyono, US President Barack Obama and German Chancellor Angela Merkel, are in Cannes for the summit, which ends today.

Further Coverage

Editorial > A10

Seeking a solution > B3