BRICS nations discuss major global issues ahead of G-20 Summit

CANNES: Hours before the opening of the G-20 Summit, leaders of emerging giants Brazil, Russia, India, China and South Africa ( BRICS) met here today to chalk out a common stand on major issues facing the world, including the Eurozone debt crisis.

Prime Minister Manmohan Singh, Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Chinese President Hu Jintao and South Africa President Jacob Zuma met at Hotel Carlton here in this French coastal resort prior to the meeting of the world's biggest economies.

Ahead of the summit, Singh had said that he expected the two-day meeting of world's 20 leading economies to signal a "strong and coordinated approach" to put the global economy back on track, while addressing medium-term structural issues.

India has already hinted that it may be ready to offer supplementary financing to sort out the Eurozone crisis after a credible assessment of solvency problem is made.

"Our assessment of the situation is let them (Eurozone) make a credible assessment of solvency issue, try to sort out those problems and then supplementary financing could be considered. Let us see what the leaders decide," Finance Minister Pranab Mukherjee had told reporters in Delhi.

He was replying to a query on Greece government's decision to seek referendum on a proposed EU rescue package which has created a fresh turmoil in the financial markets.