4 February 2004, 14:53  France set to press G7 on structural reforms

PARIS, Feb 4 - France will press for structural reforms at this week's meeting of the Group of Seven financial powers and urge the United States to tackle its "financial imbalances", a French Finance Ministry source said on Wednesday. The G7 finance ministers and central bank governors will also send a more positive message on growth than than last time they met, he said. "There should be a more positive message (on growth). The recovery in the leading (economic) zones should be acknowledged," the source said. "We will stress that structural reforms are necessary in all (economic) zones," he said, adding that the euro zone was not alone in needing to make structural reforms. "Of course, Japan has a great deal to do, the United States too, in areas such as financial imbalances which pose sustainability problems," the source said. French Finance Minister Francis Mer said in a radio interview on Saturday that the G7 meeting in Florida on Friday and Saturday -- grouping the United States, France, Britain, Germany, Italy, Japan and Canada -- must address the U.S. budget and trade deficits. Mer said volatility on financial markets linked to dollar weakness raised questions about the credibility of the sustainability of U.S. economic growth.//

© 1999-2024 Forex EuroClub
All rights reserved