LOS CABOS (Mexico) June 19: The leaders of the world's major economies embarked on the final day of the G20 summit on Tuesday determined to kickstart growth and pull the eurozone back from the brink of disaster.

European members were under extraordinary pressure from their international counterparts to loosen the straitjacket of their austerity programmes and to allow the European Central Bank to open the lending floodgates.

Beyond the summit conference centre in the Mexican resort of Los Cabos, bond markets jacked up rates on Spanish and Italian debt amid self-fulfilling fears that the debt crisis that sank Greece was spreading once again.

Germany's Angela Merkel remains the driving force behind the eurozone's determination to privilege austere deficit busting over stimulus spending, although US officials say her position is softening. A draft version of the G20 final statement suggested that a formulation would be found that would commit the leaders to a pro-growth agenda.—AFP