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G7: expectations are high but hopes are low

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G7: expectations are high but hopes are low

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Outside the G7 meeting in Italy, security remained tight.

As ministers gathered yesterday, tens of thousands of people thronged a square in Rome under a sea of red flags to protest against the economic crisis. With many people hit by the credit crunch – to one extent or another – expectations are high, even if hopes are not. One man said: “I hope they find an agreement, there are many poor people in the world that need it.” A woman added: “It is really a mess. I am 80 years old I still have to work. They are all disgusting.” More grim news emerged yesterday, showing the eurozone economy slumped by 1.5 per cent in the fourth quarter of 2008.