Sunday, June 14, 2009

G8 countries have noticed "signs of stabilization" in the global economy.

Ministers of Finance of the "Great Eight" (G8) of the meeting in the Italian city of Lecce said that despite signs of stabilizing, the situation in the global economy remains uncertain, reports AFP.
G8 Finance Ministers noted that, even in the event of an early restoration of economic growth, unemployment will also rise. They also agreed that their countries will continue to provide liquidity to banks and will start developing their own strategies for post-crisis economic recovery.
We know that at a meeting of Ministers of disagreements arose between Germany and the United States. If Berlin calls on countries "G" to reduce waste to the crisis and seek to reduce budget deficits, the Washington, by contrast, calls to adhere to previously chosen course to stimulate economic growth through a substantial infusion of funds into their economies. In addition, Germany was opposed to the EU carry out stress tests banking systems similar to those that were held in the United States. According to Berlin, they might undermine confidence in the economy of these countries.
In the Group of Eight "(G8) consists of Britain, Germany, United States, Canada, Italy, Japan, France and Russia.
Earlier, the World Bank has worsened the forecast of a decline in world GDP in 2009 from 1.75 to 3 per cent. The IMF believes that the global economy in 2009 will decline by 2.4 percent.
Meeting of Finance Ministers of the G8 summit was held in anticipation of the "Eight", which is held in the Italian city Akvila 8-10 July. The ministers were to agree on basic positions, which will be announced at the Summit of Heads of State in July.

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