Arab Today, arab today g7 talks growth austerity amid yen concerns
Last Updated : GMT 20:46:41
Arab Today, arab today
Arab Today, arab today

G7 talks growth, austerity amid yen concerns

Arab Today, arab today

Arab Today, arab today G7 talks growth, austerity amid yen concerns

Aylesbury - AFP

The Group of Seven top economies kick-started fresh talks on spurring growth Friday amid US-Europe divisions over the scale of austerity and renewed market focus on \"currency wars\" after the yen hit new dollar lows. The two-day G7 meeting in Aylesbury, northwest of London, is also being attended by top representatives from the European Union and International Monetary Fund. The G7 -- comprising Britain, Canada, France, Germany, Italy, Japan and the United States -- is building on last month\'s wider Group of 20 meeting, while looking ahead to next month\'s G8 heads of state summit in Northern Ireland. Britain is this year\'s president of the G8 -- or G7 plus Russia -- and is using the platform to also push for greater multilateral co-operation in tackling tax evasion. \"Our task is to nurture the recovery,\" British finance minister George Osborne said Friday as he opened the gathering amid pressure on Britain and other indebted European nations to scale back deep cuts to state spending, in order to support fragile growth. \"Our challenge is not to falter in the difficult steps we need to take to make that recovery sustainable and lasting,\" said Chancellor of the Exchequer Osborne. \"Markets have calmed, and there are signs that this is feeding through into greater confidence. But we cannot take the global recovery for granted,\" he added. The IMF, while welcoming efforts by indebted nations to cut spending, has urged Britain to lessen the pace of its austerity programme to support the country\'s fragile economic recovery. And on Friday, US Treasury Secretary Jacob Lew said the world\'s biggest economy feels \"strongly there needs to be the right balance between austerity and growth\". The European Union recently granted France two extra years to meet its deficit target on condition that it pursues reforms. The G7 nations, which together produce about half of the world\'s economic output, are slowly recovering from a late 2012 slowdown, the OECD said recently, with Japan and the United States leading the way. Emerging economies were tipped to remain by far the strongest growth performers, with China expected to expand by well more than 8.0 percent in the first half of 2013, the Organization for Economic Development and Cooperation said. Forecasts remain very uncertain however, the OECD added, with new-found buoyancy on financial markets yet to feed through to the wider economy. The meetings take place as US and Frankfurt stock markets have raced to record high points this week following positive economic data out of the United States and Germany. ------------ Yen in focus after reaching multi-year lows versus dollar Crucially, in foreign exchange deals the dollar Thursday vaulted past the key 100-yen barrier for the first time in more than four years, as Tokyo\'s aggressive stimulus efforts to lift the Japanese economy continue to depress its currency, helping to boost demand for Japanese exports. And the dollar raced as high as 101.98 yen on Friday, touching a level last seen in October 2008. \"We are not manipulating the foreign exchange market but trying to come out of deflation,\" Japan\'s Finance Minister Taro Aso insisted on Friday prior to leaving for Britain. The EU\'s Economic Affairs commissioner Olli Rehn said the G7 talks would focus on boosting economic growth rather than currency concerns. \"It is important that in line with previous (G20 and IMF) decisions.. there is no talk about currency wars, (but) there is discussion about how to better co-ordinate our economic and monetary policies to support growth,\" he told reporters Friday on arrival at the gathering in the English countryside. His comments come as central banks around the world are again cutting interest rates in a bid to lift growth. The G7 is \"due to discuss a number of issues including ways to get the global economy moving again, as well as the controversial topic of central banks,\" noted analyst Craig Erlam at traders Alpari. \"So far, they have attempted to distance themselves from suggestions that certain central banks are intentionally devaluing their currencies in order to increase competitiveness, but with more central banks cutting rates and announcing large stimulus programmes, it could only be a matter of time until we see their tone change.\" Last month, G20 nations gave the green light to aggressive stimulus by Japan, despite recent heavy criticism in Europe that the Asian country is forcing down the yen\'s value to help its exporters.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today g7 talks growth austerity amid yen concerns Arab Today, arab today g7 talks growth austerity amid yen concerns

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday