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Wednesday, May 27, 2015

G7 finance chiefs meet with growth problem to fix

By Paul Carrel DRESDEN, Germany (Reuters) - Little more than a gentlemen's club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China's claims to economic power. The United States is likely to use the talks, beginning late on Wednesday and running through to Friday, as an opportunity to press Europe to reach a funding-for-reforms deal with Greece, an official close to the discussions said. "The Americans are stressing the geopolitical risks and telling us we have to find a solution, that we cannot really put the euro area and Europe at risk because of Greece." Hosts Germany have given the meeting in Dresden the heading "Towards a Dynamic Global Economy", but they and officials from the United States, Japan, Canada, France, Italy and Britain must also grapple with the rise of a power not even present: China.


READ THE ORIGINAL POST AT uk.news.yahoo.com