GERMANY: G7 FINANCE MINISTERS ARRIVE FOR TALKS

Описание: (20 Feb 1999) Natural Sound
Finance ministers from the Group of Seven industrialised nations have gathered in Germany, amid a climate of slowing growth in Europe.
They hope to approve proposals aimed at preventing economic turmoil in worldwide markets.
The group, comprised of the United States, Japan, Germany, France, Italy, Britain and Canada, is expected to endorse the creation of a new group of policymakers.
The G-7 meeting, the first since the launch of Europe's single currency, the euro, is taking place amid signs of decline in the European economy and a swelling trade deficit in the U-S.
After years of prodding Japan to boost its economy, Washington recently put similar pressure on Europe.
Last Wednesday, the U-S Treasury Secretary said America can't act indefinitely as the prime mover behind global growth and the major consumer of other countries' products.
The G-7 meeting, the first since the Jan. 1 launch of Europe's single currency, the euro, is taking place amid signs of decline in the European economy and a swelling trade deficit in the U-S.
After years of prodding Japan to boost its economy, Washington recently put similar pressure on Europe.
Last Wednesday, the U-S Treasury Secretary said America couldn't act indefinitely as the prime mover behind global growth and the major consumer of other countries' products.
Robert Rubin said the risk to the global economy has shifted from inflation to lack of growth and this underscores the importance of growth-oriented policies in all G-7 industrial countries.
Listed for discussion is also the alleviation of economic woes facing Russia and Brazil.
A communique, is expected to be issued after the meeting, endorsing a proposal to establish a forum aimed at improving G-7 policy coordination for stable currency
markets.

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