ID :
65573
Sat, 06/13/2009 - 09:12
Auther :
Shortlink :
https://oananews.org//node/65573
The shortlink copeid
G-8 finance chiefs to discuss recovery efforts+
G-8 finance chiefs to discuss recovery efforts+
LECCE, Italy, June 12 Kyodo -
(EDS: MEETING TO START 7 P.M. LOCAL TIME, OR 2 A.M. SATURDAY JAPAN TIME)
Finance ministers from the Group of Eight nations will meet Friday in Lecce in
southern Italy to examine the current state of the world economy and discuss
what steps to take next to achieve sustained growth.
The main focus of the two-day meeting is how the ministers from Britain,
Canada, France, Germany, Italy, Japan, Russia and the United States will term
the present economic climate, amid increasing optimism that the worst part of
the global recession might be over.
Attention will also be paid to whether they make the time to discuss any ''exit
strategies'' from the extraordinary economic steps they have implemented to
fight the financial meltdown.
Earlier this week, a senior Japanese official said the issue of how to find a
way out from the governments' increased involvement in economic activity is
likely to be discussed.
But the official, who spoke on condition of anonymity, suggested that the
ministers' debate on this topic will not be substantial as they acknowledge
that the global economy continues to face downside risks and serious
challenges.
Also, given that central bank governors are not part of the meeting, it is
unlikely that they can arrive at any clear consensus on exit strategies.
The two-day meeting will begin with a working dinner, where the ministers are
scheduled to exchange views on a set of common principles and standards for
international economic and financial activity.
Italy, chair of the G-8 summit in early July, is interested in creating a
comprehensive package of guidelines to avoid a repeat of the global economic
crisis, which will cover topics such as corporate governance, tax havens and
salaries in the financial sector, according to Japanese officials.
The idea is to sort out several sets of existing rules, such as those mapped
out by the Organization for Economic Cooperation and Development and the
Financial Stability Board, and form them into one, making them more
comprehensive and useful for a larger number of countries, the officials said.
But some experts point out that there seem to be different degrees of
enthusiasm among the major economies in realizing the initiative and the
outcome is still unclear.
In Lecce, the ministers are not scheduled to produce anything new on the plan,
said officials preparing for the meeting, adding the discussions may be
reflected in their joint communique or put together in the form of an addendum.
The initiative may be finalized at the July 8-10 summit in the central Italian
city of L'Aquila or a meeting of leaders from the Group of 20 major developed
and emerging economies in Pittsburgh in September, according to the officials.
==Kyodo
LECCE, Italy, June 12 Kyodo -
(EDS: MEETING TO START 7 P.M. LOCAL TIME, OR 2 A.M. SATURDAY JAPAN TIME)
Finance ministers from the Group of Eight nations will meet Friday in Lecce in
southern Italy to examine the current state of the world economy and discuss
what steps to take next to achieve sustained growth.
The main focus of the two-day meeting is how the ministers from Britain,
Canada, France, Germany, Italy, Japan, Russia and the United States will term
the present economic climate, amid increasing optimism that the worst part of
the global recession might be over.
Attention will also be paid to whether they make the time to discuss any ''exit
strategies'' from the extraordinary economic steps they have implemented to
fight the financial meltdown.
Earlier this week, a senior Japanese official said the issue of how to find a
way out from the governments' increased involvement in economic activity is
likely to be discussed.
But the official, who spoke on condition of anonymity, suggested that the
ministers' debate on this topic will not be substantial as they acknowledge
that the global economy continues to face downside risks and serious
challenges.
Also, given that central bank governors are not part of the meeting, it is
unlikely that they can arrive at any clear consensus on exit strategies.
The two-day meeting will begin with a working dinner, where the ministers are
scheduled to exchange views on a set of common principles and standards for
international economic and financial activity.
Italy, chair of the G-8 summit in early July, is interested in creating a
comprehensive package of guidelines to avoid a repeat of the global economic
crisis, which will cover topics such as corporate governance, tax havens and
salaries in the financial sector, according to Japanese officials.
The idea is to sort out several sets of existing rules, such as those mapped
out by the Organization for Economic Cooperation and Development and the
Financial Stability Board, and form them into one, making them more
comprehensive and useful for a larger number of countries, the officials said.
But some experts point out that there seem to be different degrees of
enthusiasm among the major economies in realizing the initiative and the
outcome is still unclear.
In Lecce, the ministers are not scheduled to produce anything new on the plan,
said officials preparing for the meeting, adding the discussions may be
reflected in their joint communique or put together in the form of an addendum.
The initiative may be finalized at the July 8-10 summit in the central Italian
city of L'Aquila or a meeting of leaders from the Group of 20 major developed
and emerging economies in Pittsburgh in September, according to the officials.
==Kyodo
