G7 ministers see urgency but to offer no grand plan


Reuters
September 7, 2011

A meeting of Group of Seven finance chiefs on Friday will discuss the struggling world economy and progress in regulating the financial sector but a coordinated action plan to calm markets is unlikely.

Delegates at the one-day gathering in the Mediterranean port city of Marseille will seek to emphasize their commitment to preserving the fragile global recovery while avoiding promoting a one-size-fits-all approach, G7 sources say.

Host country France is expected to indicate that different responses are appropriate in different countries to the latest crisis of confidence rocking world markets.

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