In the logic of the current negotiations, market access will determine whether there will be a virtuous cycle leading to a positive result, and that depends fundamentally on the European Union.

The G20 proposal on market access goes too far.

The gap that still exists in market access-domestic support will be difficult to fill without direct intervention of the leaders, a meeting of the leaders.

We feel that these should not be tit-for-tat negotiations, this is something everyone should understand. Brazil and others are prepared to make some movement of our own and do everything that is necessary to move forward. This is an important step in the fight against poverty and I believe it is something that we must commit fully to achieving.

The logic supporting this initiative is compelling. The businesses uniquely complement each other. Combined, they create the leading, integrated financial markets exchange in the Asia-Pacific region, able to punch above its weight in the global capital markets.

We are not allergic to the FTAA,