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Keyword: g7

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  • Germany to push for economic reforms in G7

    06/29/2014 5:40:43 PM PDT · by Olog-hai · 3 replies
    TheLocal.de ^ | 29 Jun 2014 17:12 GMT+02:00 | (AFP)
    Germany wants to promote structural economic, financial market and tax reform when it takes over the presidency of the G7 club of rich nations next week, German media reported on Sunday. Member states must “join forces to support an even stronger economic recovery”, Finance Minister Wolfgang Schäuble and central bank chief Jens Weidmann said in a written message to other G7 members, the Handelsblatt business daily said. […] Germany—the Eurozone’s largest economy—also called for progress to address “the remaining gaps in financial market regulation”, including shadow banks, and on the automatic exchange of tax information. Schäuble also wants to promote...
  • Beyond the Crimea Crisis: Comprehensive Next Steps in U.S.–Russian Relations

    03/25/2014 11:16:45 AM PDT · by 1rudeboy · 16 replies
    The Heritage Foundation ^ | March 25, 2014 | Nile Gardiner, Ph.D., Jack Spencer, Luke Coffey and Nicolas Loris
    AbstractOn February 28, Russian troops, aided by pro-Russian local militia, occupied important sites across the Crimean Peninsula under the pretext of “protecting Russian people.” Now Crimea is under Moscow’s de facto control and the Russian parliament has voted to annex the region into the Russian Federation. The failure of the Obama Administration’s Russian “reset,” the unilateral disarming of Europe, and the U.S. reduction of forces and disengagement from Europe have led Russia to calculate that the West will not respond in any significant way. The Administration can demonstrate America’s commitment to its NATO allies and support for the Ukrainian...
  • G7 Boots Russia from G8 -- What a relief

    03/25/2014 2:42:33 AM PDT · by No One Special · 11 replies
    New Republic ^ | March 24, 2014 | Julia Ioffe
    Today, the G8 minus 1 met in the Hague and, rather than kick out Russia outright, simply reformed as the G7, thereby punishing (in their minds) Russia for annexing part of the sovereign nation of Ukraine. ("Countries of the G7 end their membership in the G8," read the headline of the Soviet-era wire agency ITAR-TASS.)Really, though, it was the organization--and Russia--returning to a more natural state: The G8 just went back to being the organization it was until 1998, when Bill Clinton invited Russia in, hammering what he hoped would be the final nail in the Cold War coffin. Since then, Russia underwent...
  • Russia Suspended from G8

    03/25/2014 12:48:10 AM PDT · by tcrlaf · 44 replies
    SABreaking ^ | 3-25-2014 | Natalie Simon
    The Group of 7 Nations (G7), formerly Group of 8 (G8) has suspended Russia from the alliance of leading industrialised nations, said the Whitehouse on Monday. This in response to Russia’s annexation of Crimea, formerly part of Ukraine. Leaders of the United States, Canada, France, Germany, Italy, Japan and the United Kingdom on Monday met at the Hague in the Netherlands where the group expressed their support for Ukraine’s sovereignty. “We remind Russia of its international obligations, and its responsibilities including those for the world economy. Russia has a clear choice to make,” said the group in a statement on...
  • Brazil, China, India rally round Russia after G7 snub

    03/25/2014 2:21:44 AM PDT · by Olog-hai · 19 replies
    EU Observer ^ | 25.03.14 @ 09:29 | Andrew Rettman
    The G7 club of wealthy nations has canceled a summit with Russia over its annexation of Crimea, but emerging economies have protested against its exclusion from a G20 meeting. […] For its part, US ally Australia had indicated Russia might also be excluded from a G20 summit in Brisbane in November. But Brazil, China, India, and South Africa rejected the idea. They said, together with Russia, also at The Hague, where almost 60 countries had sent VIPs to a Nuclear Security Summit, that “the escalation of hostile language, sanctions and counter-sanctions … does not contribute to a sustainable and peaceful...
  • Ted Cruz Leads GOP's Fight Against IMF Expansion in Ukraine Aid Package

    03/24/2014 1:43:33 PM PDT · by SoConPubbie · 5 replies
    Heritage "The Foundry" ^ | March 22, 2014 at 3:51 pm | Rob Bluey
    Senate Majority Leader Harry Reid (D–Nev.) is facing a revolt among Republicans for adding controversial language to an aid package for Ukraine.The Senate is expected to vote on the Ukraine measure next week. The controversial provisions, which have support of the Obama administration and liberals from both parties, would increase U.S. financial support to the International Monetary Fund.A growing number of Republicans warn that attaching the IMF language would reduce U.S. power while expanding Russia’s influence on the global stage in the wake of its annexation of Crimea.>>> Q&A: Why Do Conservatives Oppose the IMF Reform Package?Yesterday, Sen. Ted Cruz...
  • Why President Obama's mealymouthed response to Ukraine only invites Putin's aggression.

    03/11/2014 12:45:59 AM PDT · by Cincinatus' Wife · 16 replies
    Foreign Policy ^ | March 4, 2014 | Ted Cruz
    Vladimir Putin running rampant in Ukraine showcases how the Obama administration's abdication of global leadership is making the world a more dangerous place. Instead of providing clarity to our nation and our allies, the Obama administration offers tortured semantics. "Kinetic action" glamorizes the failed policy of leading from behind in Libya. A "spontaneous protest" explains the coordinated al Qaeda attack on American officials in Benghazi. The interim agreement over Iran's nuclear program -- described by one of our closest allies as a "historic mistake" -- is in this universe referred to as a display of "international unity." And on Friday,...
  • McCain: Here’s How to Punish Putin

    03/01/2014 10:03:52 PM PST · by kingattax · 55 replies
    Yahoo/Daily Beast ^ | 3-1-14 | Josh Rogin
    President Obama promised Friday there would be “costs” if Russia moved troops into Ukraine, but he didn’t specify what those costs might be. Sen. John McCain has several suggestions for Obama, including the sanctioning of high-level Russian officials; restarting missile defense plans in Eastern Europe; and bringing Georgia, a former Soviet republic, into NATO. McCain said he plans to push from the Congressional side, he told The Daily Beast in an exclusive interview Saturday evening. McCain wants the administration to expand its threat to pull out of the G8 Summit in Sochi scheduled for June. That limited move is unlikely...
  • Ted Cruz’s Ukraine plan: Have the market handle it [trade not aid]

    03/06/2014 12:43:25 AM PST · by Cincinatus' Wife · 19 replies
    Politico ^ | March 5, 2014 | EDWARD-ISAAC DOVERE
    Sen. Ted Cruz’s (R-Texas) preferred plan for Ukraine: let the market fix it. The Texas Republican wouldn’t commit to voting for aid for the country fending off Russian President Vladimir Putin’s army — or say whether there would need to be a financial offset to get his support — but argued that neither this nor conservative calls for military exercises are the right approach. Instead, Cruz argued for immediately passing a new free trade treaty with Ukraine and “looking at existing treaties between the United States and Russia, and considering abrogating those treaties.” “More important than aid is expanding economic...
  • Angela Merkel declares G8 defunct; Europe scrambles to replace Russian gas

    03/20/2014 7:18:07 PM PDT · by SeekAndFind · 75 replies
    Hotair ^ | 03/20/2013 | Bruce McQuain
    German Chancellor Angela Merkel has declared the G8 to be dead, thanks to Russia’s take over of the Crimea: German Chancellor Angela Merkel declared the Group of Eight leading nations defunct given the current crisis in Ukraine, in a clear message to Russia that the world’s seven other major industrialized countries consider its actions in Ukraine unacceptable. “As long as there is no political environment for such an important political format as the G-8, the G-8 doesn’t exist anymore, not the summit nor the format,” said Ms. Merkel, in Germany’s parliament, the Bundestag. “Russia is widely isolated in all international...
  • Ron Fournier: Excluding Russia From G8 ‘Like Suspending a Vegan From a Steakhouse’

    03/24/2014 6:53:53 PM PDT · by lbryce · 22 replies
    Fox News Insider ^ | March 24, 2014 | Ron Fournier
    A “Special Report” panel today discussed how G7 leaders met today in The Hague and announced that they would be excluding Russia from the G8 and boycotting a planned summit in Sochi. Jason Riley, of the Wall Street Journal, said Russian President Vladimir Putin is rebuilding the Russian empire while President Barack Obama and our allies in Europe are sitting around discussing international law and “kicking Putin out of clubs he doesn’t care about in the first place.” Riley said Putin knows that the administration doesn’t have the stomach for confrontation and will continue to take advantage of that.
  • G-7 Agrees to Exclude Russia, Increase Sanctions

    03/24/2014 2:14:54 PM PDT · by Berlin_Freeper · 10 replies
    wsj.com ^ | March 24, 2014 | Carol E. Lee
    THE HAGUE—Leaders of the world's largest economies agreed Monday to effectively remove Russia from the Group of Eight nations in response to Moscow's military intervention in Ukraine. The leaders, meeting in emergency session, also agreed that they would begin to exert punitive sanctions on Russia's energy, banking, finance and arms industries unless Moscow dialed back plans to seize the region of Crimea from Ukraine. "This group came together because of shared beliefs and shared responsibilities. Russia's actions in recent weeks are not consistent with them," the U.S., U.K., Germany, France, Canada, Japan and Italy said in a joint statement. "We...
  • U..S., Allies Throw Russia Out of G-8 (McFaul: Putin prepping for war w/ Nato)

    03/24/2014 5:38:50 PM PDT · by kristinn · 29 replies
    McClatchy ^ | Monday, March 24, 2014 | Lesley Clark
    President Barack Obama and leaders of the world’s largest industrialized countries expelled Russia from the group until it “changes course” in Ukraine and formally canceled plans to attend an economic summit in Russia in June. The move was aimed at Russian President Vladmir Putin’s plan to host the G-8 group of economic powers at Sochi, Russia, which would have been its second starring role on the world stage after this winter’s Olympics. Instead, the G-7 leaders will meet in Brussels without Putin. At the same time, the group said it would not send its foreign ministers to a planned G-8...
  • US, Allies Kick Russia Out of G-8

    03/24/2014 5:19:01 PM PDT · by lbryce · 25 replies
    NewsMax ^ | Match 24, 2014 | Staff
    The world's leading industrial powers threatened further sanctions to deter the Kremlin from invading other parts of Ukraine and boycotted what was to be a Group of Eight summit hosted by President Vladimir Putin. Meeting for the first time since last week's annexation of Crimea by Russia, Group of Seven leaders said they won't attend the planned G-8 meeting which was to have to been held in Sochi, site of the Winter Olympics, and will instead hold their own summit in June in Brussels. "We remain ready to intensify actions including coordinated sectoral sanctions that will have an increasingly significant...
  • Russia Suspended From G8, France Says (That will show em!)

    03/18/2014 7:19:07 AM PDT · by Dave346 · 30 replies
    The Moscow Times ^ | Mar. 18 2014 14:57
    The leaders of the Group of Eight have suspended Russia's participation in the body over Moscow's activities in Ukraine, the French foreign minister said Tuesday. In an interview with Europe-1 radio, Foreign Minister Laurent Fabius said that "it is envisaged that all the other countries, the seven leading countries, will unite without Russia," The Associated Press reported. The other seven members had already pulled out of preparations for a G8 summit set to be held in June in the Russian city of Sochi. Fabius and French Defense Minister Jean-Yves Le Drian earlier postponed a trip to Moscow to meet with...
  • Morgan Stanley: There's A Chance of Major Coordinated G7 Intervention As Soon As This Weekend

    09/07/2011 1:24:21 PM PDT · by blam · 35 replies · 1+ views
    TBI ^ | 9-7-2011 | Joe Weisenthal
    Here's The Big Call From Morgan Stanley: There's A Chance of Major Coordinated G7 Intervention As Soon As This Weekend Joe Weisenthal Sep. 7, 2011, 3:29 PM From the latest Morgan Stanley global monetary analyst, something to watch this weekend: A fiscal response to economic weakness in the US and the euro area may be desirable but is unavailable, at least in the short run. The burden of propping up markets and the economy for the next few months thus falls on central banks. The negative feedback loop between weak growth and soggy asset markets makes a coordinated monetary policy...
  • Major world markets set to open after U.S. credit downgradeBy

    08/07/2011 5:07:01 PM PDT · by Presbyterian Reporter · 16 replies
    CNN ^ | August 7, 2011 | Tom Cohen
    Markets react to ratings cuts in the U.S.STORY HIGHLIGHTS NEW: Investors are weighing both the downgrade and the Investors are waiting anxiously for major world markets to open for Monday trading, following the U.S. credit rating downgrade to AA+ from the top rank of AAA. Stock futures tumbled more than 2% at the start of electronic trading Sunday, signaling a nasty investor reaction According to data from the Chicago Mercantile Exchange, S&P 500 futures fell 30 points, or 2.7%. Nasdaq-100 futures contracts slipped 54 points, or 2.5%. Dow Jones industrial average futures were 292 points, or 2.6%, lower. The futures...
  • Quantitative Easing QE3 Is On Its Way, Inflation Will Go Through The Roof

    03/30/2011 10:14:49 PM PDT · by blam · 18 replies
    TMO ^ | 3-30-2011 | Bob Chapman
    Quantitative Easing QE3 Is On Its Way, Inflation Will Go Through The Roof Mar 30, 2011 - 12:37 PM By: Bob Chapman QE3 is on the way accompanied by almost zero official interest rates. QE1 was to bail out the financial sectors in the US and Europe and QE2 was to bail out US government debt. That is why the Fed has purchased 70% to 80% of Treasuries. Previous debt and the $1.6 trillion of new debt created this year means someone has to buy that debt and there are very few buyers. That means the Fed has to buy...
  • Canada's Turnaround from a High-Debt, High-Tax, High-Deficit Country to Lowest Tax Rates in G7

    04/03/2010 8:59:40 AM PDT · by SeekAndFind · 9 replies · 432+ views
    Carpe Diem ^ | 04/03/2010 | Mark J. Perry
    "Canada's relatively low corporate taxes have helped to make this country one of the best places in the world for companies to set up shop. Canada ranks second among 10 key countries as a cost-effective place to do business, and relatively low taxes are one of the main factors, consultants KPMG said in a report released yesterday. KPMG said one key reason for Canada's high standing is that federal and provincial governments have been cutting taxes and reforming tax laws in recent years. Indeed, Canada now has lower business taxes than any other G7 country. "It's really over the last...
  • Euro zone debt woes to add urgency to Arctic G7

    02/06/2010 3:35:23 AM PST · by Cheap_Hessian · 1 replies · 327+ views
    Reuters ^ | February 5, 2010 | Louise Egan
    IQALUIT, Canada (Reuters) - Europe's deepening debt crisis leapt to the top of the agenda of a meeting of G7 finance leaders in the Canadian Arctic on Friday amid fears that Greece's fiscal sickness was already infecting its peers. Canadian Finance Minister Jim Flaherty, host of the top-level meeting, said officials from the seven rich industrialized countries had already started talking about Europe's problems, and there was particular concern about the situation in Greece. "I think we have to be very mindful of the potential failure of domestic economies and of the persistence of some toxic assets in some banks,"...
  • G7 to get real taste of what sealing means to the North

    02/02/2010 5:22:48 PM PST · by fanfan · 3 replies · 181+ views
    The Globe and Mail ^ | Tuesday, Feb. 02 | Bill Curry
    ~snip~ The chairs the ministers will use during a private meeting in Nunavut's legislature are upholstered in shiny sealskin. The servers will sport sealskin hairpins. Seal vests and mitts will be given as gifts. And Saturday's evening feast at the local school will be an Inuit “country” supper of meats and fish from the land and sea, some of it served raw. Seal is on the menu. Take that, PETA. ~snip~ The Inuit have so far lost out to the high-profile campaigns of animal rights groups like PETA, who make effective use of celebrity supporters such as Paul McCartney. ~snip~...
  • G-7 Abandons The Dollar

    10/05/2009 11:54:51 PM PDT · by bruinbirdman · 72 replies · 2,560+ views
    Forbes ^ | 10/5/2009 | Carl Gutierrez,
    Greenback fell further after the G-7 would not come to the rescue. The Group of Seven will let the dollar fall. The heated climate before the Istanbul meeting led some to expect global policymakers to take a stand, but despite the strong tone, Andrew Wilkinson, senior market analyst at Interactive Brokers, said it was short on action. "It invites investors to test the dollar's lines of resistance in order to see what response, if any, might be forthcoming in the event of a further fall in the value of the dollar," Wilkinson said. The dollar's loss of value over the...
  • Japan finance minister steps down

    02/17/2009 4:55:11 AM PST · by Loyalist · 1 replies · 229+ views
    BBC News ^ | February 17, 2009
    Japan's Finance Minister Shoichi Nakagawa has resigned, amid claims that he was drunk at a recent G7 meeting. Mr Nakagawa said earlier that he would wait until parliament had approved a supplementary budget to step down. But he brought forward his departure after calls for his immediate exit escalated. .... He has already apologised for his behaviour at last weekend's news conference in Rome but blamed cold remedies for a slurred performance there. He said he had not drunk more than a sip of alcohol before facing the media.
  • G-7 Softens Criticism of China's Currency Policy

    02/15/2009 9:01:48 AM PST · by FromLori · 4 replies · 177+ views
    WSJ ^ | 2/15/09 | By MICHAEL M. PHILLIPS and STACY MEICHTRY
    ROME – The U.S. and its major allies softened their criticism of China's controversial currency policy, in a shift that reflects the West's eagerness for Beijing's help in resolving the global financial and economic crisis. Having just weeks ago accused China of manipulating its currency to gain an edge in foreign trade, Treasury Secretary Timothy Geithner on Saturday praised Beijing for "playing a very important stabilizing role in the international financial system today
  • The G7 (Gang of Seven), Climate Change and You

    02/09/2009 3:47:23 PM PST · by The Conservative Yogini · 197+ views
    The Gadfly ^ | The Gadfly
    For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as 'internationalists' and of conspiring with others around the world to build a more integrated global political and economic structure--one world, if you will. If that's the charge, I stand guilty, and...
  • Dubai discloses details to assuage fears (Massive debts)

    11/24/2008 7:24:50 PM PST · by PotatoHeadMick · 15 replies · 606+ views
    The Times (UK) ^ | November 25, 2008 | David Robertson
    The Government of Dubai has moved to protect its economy from a looming crisis of confidence by disclosing details of its previously secretive finances, merging and nationalising financial groups and putting the brakes on its property market. Mohamed Alabbar, a member of Dubai's executive council and chairman of Emaar Properties, said yesterday that the emirate's borrowings were $10 billion (Ł6.6 billion) and that state-affiliated companies owed a further $70 billion. Dubai's GDP was 198 billion United Arab Emirates dirhams (Ł35.6billion), which means that the ratio of its debt to gross domestic product is 148 per cent, compared with 57 per...
  • Brazil: Time To End United States Dominance In World Financial System

    11/09/2008 6:14:54 AM PST · by Fox_Mulder77 · 34 replies · 287+ views
    Stealthy News ^ | November 8, 2008 | Tom Fox
    Brazil's President and former labor union leader, Luiz Inacio Lula da Silva, called on the world to put an end to the current dominance of United States in the world financial system. He wants the world to adopt a new system that will be run by the G20 nations, and discard the G7 all together. The Brazilian Finance Minister, Guido Mantega, said "We refuse to take part in the G7 merely to drink coffee and we have to have a more important role in discussions". Ultimately, Brazil envisions, "a pact between governments to build a new financial architecture for the...
  • G7 'preparing to drive down the yen'

    10/27/2008 5:02:46 PM PDT · by bruinbirdman · 6 replies · 383+ views
    The Times ^ | 10/27/2008 | Leo Lewis
    Members of the Group of Seven (G7) nations may be considering a joint market intervention to prevent a further surge in the yen as the Japanese currency’s sharp rise threatens the world’s second biggest economy and other Asian economies. The yen, which is trading at around Y93 against the greenback, lurched higher today, despite the afternoon warning statement from the G7 and direct comments by the Japanese Finance Minister that currency traders said amounted to “the clearest possible” signs the Japanese Government was poised to intervene in the markets. Analysts interpreted a rare currency volatility warning by the G7 as...
  • Markets rally after crisis talks

    10/13/2008 12:53:14 AM PDT · by Republicain · 12 replies · 957+ views
    BBC News ^ | 10/13/2008
    European and Asian markets have rallied in response to efforts by world leaders to stem the recent financial turmoil. London's FTSE 100 index and France's Cac 40 index both jumped more than 5% - tracking earlier gains on Asian markets. Bank shares led the advance. Major central banks also made extra funds available and said they would take "whatever measures necessary" to end the crisis. EU leaders said on Sunday no big bank would be be allowed to fail. Banking shares were among the biggest gainers on London's FTSE 100 index, with Royal Bank of Scotland climbing 4.8%, Barclays up...
  • White House Overhauling Rescue Plan

    10/11/2008 6:31:21 PM PDT · by libsmacker75 · 31 replies · 830+ views
    New York Times, aka Socialist Workers' Daily ^ | 11 October 2008 | Edmund L. Andrews & Mark Landler
    WASHINGTON — As international leaders gathered here on Saturday to grapple with the global financial crisis, the Bush administration embarked on an overhaul of its own strategy for rescuing the foundering financial system.
  • A Day in the Life of President Bush 10-11-08 and 10-12-08

    10/11/2008 3:04:44 PM PDT · by daisyscarlett · 57 replies · 1,109+ views
    Various | daisyscarlett
    President Bush delivered his weekly radio address today from Washington. In Focus: The economy. President Bush met with G7 Finance Ministers to discuss world economy in the Roosevelt Room of the White House. He then made remarks of this meeting in the Rose Garden. Rose Garden Remarks President Bush went mountain bike riding today with incoming Commander of U.S. Central Command Gen. David Petraeus Enjoy your visit to Sanity Island
  • IMF Chief Warns of Global Financial Meltdown

    10/11/2008 1:30:10 PM PDT · by John W · 13 replies · 504+ views
    MSNBC ^ | October 11, 2008 | MSNBC
    WASHINGTON - The International Monetary Fund warned Saturday that debt-ridden banks were pushing the global financial system to the brink of meltdown and rich nations had so far failed to restore confidence. President Bush appealed for patience as world leaders raced to stabilize financial markets and avert the deepest global recession in decades, but the 185-nation IMF said more steps would be needed in the coming months. "Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown," IMF chief Dominique Strauss-Kahn said.
  • Bush: US will work with partners on credit crisis

    10/11/2008 9:09:30 AM PDT · by TenthAmendmentChampion · 35 replies · 625+ views
    AP via My Way News ^ | Oct 11, 2008 | MARTIN CRUTSINGER
    <p>President Bush emerged from a meeting with foreign financial officials on Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth."</p> <p>"The United States has a special role to play in leading the response to this crisis," the president said. "That is why I convened this morning's meeting here at the White House and it is why our government will continue using all the tools at our disposal to resolve this crisis."</p>
  • Bush: World coming together

    10/11/2008 8:50:55 AM PDT · by BGHater · 40 replies · 852+ views
    The Hill ^ | 11 Oct 2008 | Ian Swanson and Manu Raju
    World leaders are coming together to take decisive action to help a faltering world economy rocked by a credit crisis and unnerved by plunging global stock markets, accoring to President Bush. In a Rose Garden address shortly before 8 a.m., Bush pledged that the economy would emerge stronger as a result of the actions taken by G7 nations. “I'm confident the world's major economies can overcome the challenges we face,” said Bush, backed by Treasury Sectretary Henry Paulson and other G7 finance ministers. “We're in this together. We'll come through this together.” He said the G7 nations had agreed to...
  • 'We must stand together': Bush warns countries as G7 agrees 'plan of action' tor rescue ...

    10/11/2008 10:39:54 AM PDT · by Ernest_at_the_Beach · 10 replies · 510+ views
    Daily Mail ^ | 6:23 PM on 11th October 2008 | Daily Mail Reporter
    'We must stand together': Bush warns countries as G7 agrees 'plan of action' tor rescue world economy G7 group agree 'plan of action' to solve financial crisisBush warns countries they must stick together U.S. follows Britain by buying up banks stocksFTSE has worst week ever, dropping 21% in just five daysPresident Bush today warned countries against acting alone to try and ease the financial crisis after a catastrophic week of nosediving shares that saw Ł250billion wiped off the Stock Market. In his 20th emergency statement in since September, Mr Bush stressed that the biggest powers in the world have to...
  • BERLUSCONI : LEADERS MAY CLOSE WORLD'S MARKETS

    10/10/2008 9:12:38 AM PDT · by Danae · 153 replies · 5,422+ views
    Italian Prime Minister Berlusconi said political leaders discussing idea of closing world's financial markets while they 'rewrite the rules of international finance'... MORE Nothing follows. I can't get to the Bloomberg story its getting hammered. This is huge and series. Load your shotguns folks.
  • World Fianance Chiefs Heading For Washington For Crunch Talks

    10/10/2008 2:23:38 AM PDT · by Man50D · 10 replies · 518+ views
    breibart.com ^ | October 9, 2008
    Finance chiefs from the world's richest nations are set to meet in Washington for a crucial but uncertain meeting at a time of unprecedented fear about the global financial system. The Group of Seven meeting will bring together finance ministers and central bankers on Friday from the United States, Germany, Japan, France, Britain, Italy and Canada for some collective-thinking on the credit crunch and crashing stocks. They are to be joined by counterparts from emerging markets including Brazil, Russia, India and China for an impromptu gathering of the expanded so-called G20 group. The United States finds itself in a rare...
  • Bush to Meet G7 Finance Ministers at White House

    10/09/2008 2:33:07 PM PDT · by meandog · 4 replies · 341+ views
    wsj ^ | October 9, 2008, | Henry J. Pulizzi
    As pressure mounts on world leaders to take stronger action to contain the economic crisis, U.S. President George W. Bush will meet with finance ministers from the Group of Seven countries Saturday morning at the White House. “The president will have the opportunity to hear directly from the finance ministers about how the financial crisis is affecting their respective economies and the steps they are taking, to deal with these challenges, both individually and collectively,” White House spokeswoman Dana Perino said Thursday. “The president will emphasize the importance of nations working in a coordinated way to address the crisis, while...
  • Don't Cry for Russia - The world's unlikeliest "victim."

    08/28/2008 4:19:26 PM PDT · by neverdem · 2 replies · 100+ views
    Weekly Standard ^ | 09/01/2008 | Cathy Young
    As Russian tanks rumble through Georgia, and Western pundits talk of the "new Cold War," one trope keeps reappearing in their discourse. Russia's newly aggressive stance, we are told, is partly our fault: After the fall of Communism, the West went out of its way to humiliate and trample Russia instead of treating it as a partner--and now, an oil-powered Russia is striking back. "Russia's litany of indignities dates to the early 1990s when the Soviet empire collapsed," Samantha Power, a professor at Harvard's Kennedy School of Government and former Barack Obama adviser, wrote in Time. "A bipolar universe gave...
  • Russia faces fresh condemnation

    08/27/2008 8:05:32 PM PDT · by Schnucki · 4 replies · 73+ views
    BBC News ^ | August 28, 2008
    Seven of the world's leading industrialised nations have jointly condemned Russia's decision to recognise Georgia's breakaway regions. Canada, France, Germany, Italy, Japan, the US and UK said Moscow's recognition of South Ossetia and Abkhazia violated Georgia's integrity and sovereignty. Earlier, the UK's foreign secretary said Western countries should re-examine their relations with Russia. David Miliband also warned Russia not to start a new Cold War. Speaking during a visit to Ukraine, Mr Miliband said Moscow had not reconciled itself with the new map of the region and that the West should should look at ways to reduce its dependence on...
  • Berlusconi plans Paris-Rome axis to humble the ECB

    04/15/2008 7:56:05 PM PDT · by Fred · 11 replies · 102+ views
    Telegraph.co.uk ^ | 1:21am BST 16/04/2008 | Ambrose Evans-Pritchard
    Silvio Berlusconi's return to power in Italy is a nightmare come true for the European Central Bank, opening the way for a Rome-Paris axis with the political muscle to force a change in monetary policy. Silvio Berlusconi plans Paris-Rome axis to humble ECB Silvio Berlusconi does not share the EU-loyalities of the outgoing government The billionaire politician has pledged an alliance with France's Nicolas Sarkozy aimed at humbling the bank and asserting the primacy of elected leaders over interest rates and the currency. "A very strong euro is hurting Italy's economy. I will discuss intervening with the ECB with Sarkozy,"...
  • G7 ready to act to stabilize markets: Japan MOF

    02/28/2008 3:30:01 PM PST · by BGHater · 2 replies · 79+ views
    Reuters ^ | 28 Feb 2008 | Natsuko Waki and Toni Vorobyova
    The Group of Seven industrialized nations is closely monitoring the global financial market turmoil and stands ready to take action to enhance stability in the market, Japan's top financial diplomat said on Thursday. Naoyuki Shinohara, vice finance minister for international affairs, also cast doubt on calls to establish a Japanese sovereign wealth fund, saying the country's foreign reserves are not a pure investable asset given its huge budget deficit. G7 finance chiefs warned in Tokyo earlier this month that credit turmoil could still unhinge the global economy and pledged a plan of action for restoring markets to financial health. But...
  • (UPDATE) Paulson confident on growth, says US not in recession

    02/09/2008 4:37:06 AM PST · by TigerLikesRooster · 19 replies · 46+ views
    ABS-CBN News ^ | 02/09/08
    UPDATE) Paulson confident on growth, says US not in recession Agence France-Presse TOKYO - US Treasury Secretary Henry Paulson said Saturday he was "confident" that the world's largest economy would continue to grow in 2008, rejecting talk of a recession triggered by housing market woes. "I believe that we are going to keep growing. If you are growing, you are not in recession, right? We all know that," Paulson said after a meeting in Tokyo of finance chiefs from the Group of Seven rich nations. The G7 meeting's statement had warned that "risks have become more skewed to the downside"...
  • Markets on alert for G7 shift on currency

    10/14/2007 11:26:19 AM PDT · by DeaconBenjamin · 7 replies · 105+ views
    Financial Times ^ | October 14 2007 17:09 | By Krishna Guha in Washington and FT Reporters in Europe
    Currencies and the regulatory response to the credit crisis will top the agenda when world finance ministers, central bank governors and private sector bank executives meet this week in Washington for the Group of Seven summit and the annual meetings of the International Monetary Fund and the World Bank. Foreign exchange markets in particular are on alert for any changes to the G7 ­communiqué that raise even the remote possibility of co-ordinated international intervention to support the dollar, which has fallen to its lowest levels against the euro in recent weeks. This heightened sensitivity follows a high-profile public campaign by...
  • The Attempted Putsch at the World Bank

    05/14/2007 11:29:49 PM PDT · by the Real fifi · 9 replies · 535+ views
    The American Thinker ^ | 5/15/05 | Clarice Feldman
    Late yesterday afternoon, without prior notice to Paul Wolfowitz, the World Bank's Executive Committee released the Final Report of the Ad Hoc Group on his handling of personnel issues affecting his companion Shaha Riza. It is a highly damaging, utterly biased account of the events and the nature of the release-designed to give his detractors first crack at the news while handicapping him in his capacity to respond. Yet it is par for the course in a matter which has been characterized by false accusations, unfair treatment and selected manipulation of the press by those members of the Bank and...
  • Dollar starts the big slide against major currencies

    05/01/2006 8:17:46 AM PDT · by Crackingham · 187 replies · 3,625+ views
    Times Online ^ | 5/1/6 | David Smith
    The dollar has embarked on a big decline that will see it fall against all leading currencies, according to analysts. The plunge is being prompted by America’s $800 billion (Ł438 billion) current-account deficit, they say. The dollar has been under pressure following last weekend’s meeting of G7 finance ministers and central bankers, which emphasised “global imbalances” and said currencies should reflect economic fundamentals. Then China raised its key interest rate to 5.85%, its first hike for months, and Ben Bernanke, the new Federal Reserve chairman, hinted that American rates would pause at 5% after a rise in May. Analysts say...
  • Skip St. Petersburg, Mr. Bush (G8 Summit)

    03/07/2006 10:23:30 PM PST · by RWR8189 · 9 replies · 544+ views
    Washington Post ^ | March 8, 2006 | Anne Applebaum
    Close your eyes and say it out loud: "G-8." Let the two syllables run across your tongue again: "gee-eight." What images drift into your brain?If you are like most Americans, I suspect that this simple psychological experiment will produce something like, "stuffy statesmen, boring meeting, prepackaged conclusions." Or maybe, "screaming protesters, riot police, prepackaged slogans." Or even, "turn the page and read something else."~SNIP~Perhaps you think it ridiculous to sound so apocalyptic about a meeting that most Americans find too boring to read about. But don't listen to me, listen to Andrei Illarionov, an economic adviser to Putin before he...
  • Dollar rally gathers pace

    11/28/2005 3:14:40 AM PST · by RWR8189 · 3 replies · 655+ views
    Reuters ^ | November 28, 2005 | Natsuko Waki
    LONDON (Reuters) - The dollar hit a 27-month high against the yen on Monday and edged closer to recent two-year lows versus the euro and sterling as greenback buying on yield advantage gathered momentum after a long U.S. weekend. In the absense of major data on Monday, investors, coming back from the Thanksgiving holiday weekend, pushed the dollar higher in anticipation of further rises in U.S. interest rates. The euro kept a low profile as investors awaited European Central Bank speakers including chief Jean-Claude Trichet ahead of a widely-expected 25 basis point rate hike this week. But the outlook beyond...
  • WSJ: The Blair Debt Project - Why the U.S. is right to resist the 'free gold' illusion.

    06/07/2005 5:43:04 AM PDT · by OESY · 13 replies · 568+ views
    Wall Street Journal ^ | June 7, 2005 | Editorial
    Prime Minister Tony Blair visits President Bush today to make his case for new G-7 aid to the world's poor, particularly Africa. Headlines notwithstanding, the disagreement between the two men is not about whether rich countries ought to help the poor, but rather how. The U.S. is already the world's most generous donor to the global development cause. According to the OECD, total U.S. official assistance in 2004 was almost $19 billion, nearly twice that of the next biggest givers, Japan and France. And for those who talk about "aid per capita," keep in mind that U.S. military spending that...
  • China put on notice over its currency(cornered by G7)

    04/18/2005 10:07:04 AM PDT · by TigerLikesRooster · 44 replies · 1,260+ views
    Financial Times ^ | 04/1705 | Andrew Balls and Scheherazade Daneshkhu
    China put on notice over its currency By Andrew Balls and Scheherazade Daneshkhu in Washington Published: April 17 2005 19:11 | Last updated: April 17 2005 19:11The Group of Seven leading industrialised countries this weekend put China on notice that it must shift to a more flexible currency regime, with finance ministers demanding it take action immediately.  The G7's communique repeated its call for "more flexibility in exchange rates" where it was lacking, to help promote more balanced global growth, and added a demand that "vigorous action is needed to address global imbalances". Officials said there was no discussion of...