G7 demands urgent reforms
15-02-2009
Finance ministers and central bankers from the Group of Seven main industrial countries say stabilising the world economy and global financial institutions is the top priority facing the international community. A statement issued after two days of talks in Rome, called for urgent reforms saying the current crisis had shown weaknesses in the world financial system. The G7 delegates vowed to avoid protectionism as they seek to stabilise the tottering world economy and financial markets. The global crisis "has highlighted fundamental weaknesses in the international financial system and that urgent reforms are needed," the statement said. "The stabilisation of the global economy and financial markets remains our highest priority." The G7 comprises the US, Britain, Japan, Germany, France, Italy and Canada.
