The G-7 lowers expectations
This Friday, finance ministers from the G-7 countries will meet in southern France to grapple with the world’s financial turmoil. What to expect? Not much, one French source tells Reuters: Host country France is expected to indicate that different responses are appropriate in different countries to the latest crisis of confidence rocking world markets. "This ...
This Friday, finance ministers from the G-7 countries will meet in southern France to grapple with the world's financial turmoil. What to expect? Not much, one French source tells Reuters:
This Friday, finance ministers from the G-7 countries will meet in southern France to grapple with the world’s financial turmoil. What to expect? Not much, one French source tells Reuters:
Host country France is expected to indicate that different responses are appropriate in different countries to the latest crisis of confidence rocking world markets.
"This is not a G7 where we are expecting to prepare a formal communique," a French source said. "We are sticking to the blueprint of recent G7 meetings, which have been informal ones."
There are likely two reasons the G-7 meeting will be low-key, one substantive and one a matter of optics. First, it does not appear that consensus exists yet on any new coordinated strategy to deal with the Eurozone crisis. Second, the G-7 has been at pains to not step on the toes of the G-20, which has been designated the world’s preeminent forum for financial and economic coordination.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
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