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G7 finance ministers to discuss euro crisis

06-06-2012 09:36 BJT

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Finance ministers of the G7 leading industrialized nations are holding a phone conference or emergency talks on the euro zone debt crisis right now, stepping up the pressure for Europe to act.

Analysts say Europe needs to take faster action to address the issues of under-capitalised banks and build an adequate firewall. The US, which holds the G7 chair, wants Europe to deal with the crisis with more force.

Meanwhile, Germany is rejecting any idea of easing the austerity measures and structural reforms which it wants to use to combat the crisis and financial markets worldwide are still anxious about the risks from Spain’s troubled banking system and a June 17th election in Greece which may bring in an anti-austerity government.



Editor:Zhang Rui |Source: CNTV.CN

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