Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • USA: 5,000 people evacuated from Maryville, Tennessee, after a train hauling liquid petroleum gas derailed and caught fire
  • Russia says that the new U.S. military strategy was confrontational and would not help improve relations with Moscow (spokesman)
  • Japan launches World Trade Organization trade dispute to challenge Brazilian taxes and charges that Japan says illegally discriminate against imported goods
  • Cyprus President Nicos Anastasiades says the peace talks to end the island’s division are starting to show some progress (Reuters)
  • Philippines: at least 33 people dead after a ferry sinks with 173 passengers and crew on board. At least 118 survived (coastguard)
Facebook Twitter Google+ Reddit

In the southern French city of Marseille, finance chiefs from the world’s top economies — the G7 — are meeting under heavy pressure to do more to revive flagging growth.

As they gathered US Treasury Secretary Timothy Geithner pressed Europe’s fiscally stronger countries to give “unequivocal” financial support to weaker euro zone states to overcome a debt crisis threatening the world economy.

Speaking in London, en route to France IMF chief Christine Lagarde called for bold action to get through a “dangerous new phase” of the recovery: “For the advanced economies, there is no question that fiscal sustainability must be restored. Policymakers, particularly in the monetary sphere, should stand ready, as needed, to take more action to support the recovery, including through unconventional measures.”

As the global economy slows and demand declines, hitting export-dependent countries like Germany, the financial markets are looking to the Group of Seven for some sign of a policy shift to boost growth.

Host country France has said it wants a coordinated response from the major industrial economies to counter mounting anxiety over Europe’s debt crisis and the fragility of its banks.

More about:

Check out today's top stories