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G8 ministers talk exit strategies

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G8 ministers talk exit strategies

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Finance ministers from the G8 leading industrialised countries gathered in Italy are focusing on how to coordinate policy to get their economies back to normal once the crisis is over.

Germany particularly wants “exit strategies” worked out to avoid future high inflation. While the British Treasury chief Alistair Darling is pressing his counterparts to take tougher action on cleaning up their banks. Darling said some European countries have not been pushing their financial institutions hard enough to identify their potentially worthless “toxic assets.” The Europeans are split over the usefulness of US-style “stress tests” to check the stability of the region’s banks.