G7 finance ministers to talk Euro crisis, but no action expected

Reuters is reporting that G7 finance ministers will speak tomorrow about ways to address the Euro crisis: Finance ministers and central bank governors of the Group of Seven (G7) industrialized nations will hold a conference call on Tuesday morning, a Can adian gov ernment spokeswoman said on Monday, ami d increased concern about the European ...

By , a professor at Indiana University’s Hamilton Lugar School of Global and International Studies.

Reuters is reporting that G7 finance ministers will speak tomorrow about ways to address the Euro crisis:

Reuters is reporting that G7 finance ministers will speak tomorrow about ways to address the Euro crisis:

Finance ministers and central bank governors of the Group of Seven (G7) industrialized nations will hold a conference call on Tuesday morning, a Can adian gov ernment spokeswoman said on Monday, ami d increased concern about the European debt crisis.

"There’s a heightened sense of alarm over developments in Europe, particularly in Spain," said one G7 source, speaking on condition of anonymity due to the sensitivity of the matter.

However, he said that with U.S. unwillingness to provide International Monetary Fund money to help Europe, there was little sense the global community could act as one to contain the crisis.

Unless there is a great deal going on behind the scenes, the world’s formal and informal mechanisms for international economic cooperation appear to have done as much as they can to address the Eurozone crisis. 

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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