News from G7: no news.
<<''I think we had a really very good, very interesting discussion with respect to the state of the world economy and various matters related thereto,'' Rubin told reporters after a working lunch with G7 finance ministers and central bank heads.
Asked if Japan was doing what it was needed to reform its economy, Miyazawa said, ''Yes.''
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Saying the world financial system was facing its worst crisis in half a century, Clinton vowed Washington would work with its G7 and IMF partners to give cash-strapped nations easier and faster access to fresh capital in times of crisis.
Administration officials warned the plan was still in its early stages, but said it would basically entail the use of existing IMF resources to boost countries' economic defenses.
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U.S. officials have cautioned that the high-level meetings of officials from the G7 -- the United States, Japan, Germany, Britain, France, Italy and Canada -- were unlikely to finalize any of the various proposals.
Germany, for its part, has warned against any quick-fix plans for the world economy and instead has called on countries affected by the crisis to improve their economic policies.>> |
