G-7 finance ministers and central bank heads expressed cautious optimism about the economic recovery in the U.S. and Europe following their meeting in Ottawa Saturday. While "risks remain," the group said that prospects for an economic expansion have "generally strengthened." They added that they would remain "vigilant" and that each country should take appropriate steps "to promote a strong and sustained recovery." U.S. Treasury Secretary O'Neill said he was "optimistic" on the prospects for the U.S. economy. European officials were also upbeat, with ECB President Duisenberg saying "We are now on a path to recovery." He added that ECB rates remain appropriate for the medium-term inflation outlook. Bundesbank President Welteke added that given strong December industry data, the worst seems to be over for the German economy. //MarketNews