An escalation of the euro crisis could lead to another "major" global economic downturn, UN Secretary General Ban Ki-moon said Friday in advance of next week's summit in Mexico of the world's 20 largest economies. Ban said unsolved problems in the banking sector and sovereign debt crises in rich countries would impact programmes to reduce extreme poverty, leading to more unemployment and political upheaval around the world. "The key in the months ahead is to prevent bank runs and financial panic, and to renew commitment to sustainable development," he said in a letter to participants in the G20 meeting in Los Cabos on Monday and Tuesday. The G20 should reach "meaningful results" in jobs, education and training and keep their commitment to provide development assistance to poor countries, said Ban, who is scheduled attend the Los Cabos summit.
