G-7 Vows to Support Growth
(Aylesbury) – The Group of Seven top economies is committed to “nurturing” world economic recovery, British finance minister George Osborne said following a meeting of the international body that also pledged to further slash countries’ huge public deficits. “Overall, our discussions over the past two days have reaffirmed that there are still many challenges to securing sustainable global recovery, and we can’t take it for granted. But we are committed as the advanced economies in playing our part in nurturing that recovery and ensuring a lasting recovery so that we have prosperity in all our countries,” he said.
The chancellor of the exchequer was speaking after a two-day informal meeting of G-7 finance ministers and central bankers aimed at striking a balance between supporting fragile economic recovery and slashing government debts. Osborne said the discussions had revealed more areas of agreement between the member states than is assumed, amid pressure from the United States for Europe to scale back deep austerity measures.
The Aylesbury gathering, also attended by top representatives from the European Union and International Monetary Fund, built on last month’s wider Group of 20 meeting while looking ahead to next month’s G-8 summit in Northern Ireland.