Check Up The Economy In The G7

By Author: Italo Zanotti
Total Articles: 62
Comment this article

New rules for financial system, with the American proposal to hold the counter, and the analysis of the health of the economy, on which rests the high recovery rate of unemployment. All this without forgetting the earthquake in Haiti and the banner of coordination.
This is the agenda on which the finance ministers and central bank governors of the G7 will compare next weekend in Iqaluit (Canada), a few steps from the North Pole. A comparison of frost, by the Canadian delegation at the request of restricted given the limited hotel capacity of the area, will face fitted with equipment for Arctic expeditions: Canada, host of the event, bought - reports Bloomberg - 38 of the Canada Goose parka excellent for guests. Canada Goose provides the equipment for the U.S. Antarctic Program. Average price of purchased parka is $ 670.00. A G7 in the cold to go - says the Canadian Finance Minister Jim Flaherty, who presented the main topics of the meeting - "the roots", when in the years 1970-1980 were more frank discussions.
And no final statement, which - according to some observers, highlighting the progressive loss of importance ...
... of the group. The G7 was created in 1976, when Canada joined France, Germany, Italy, Japan, Britain and the United States. The choice of Iqaluit - town of 6,000 inhabitants some 310 kilometers from the North Pole - 'forced intimacy' - ironic observers - offering little room for distractions, given the stringent temperature (in February on average -29 degrees Celsius. On February more cold history of Iqaluit and 1979, when the temperature dropped to -66). Makes it unlikely that climate protests but the local police - the Canadian press reports - is ready for any eventuality.
By choosing to Iqaluit, Canada also aims to stress - some analysts point out - its sovereignty on the area when some governments have assumed to request that the Northwest Passage has been declared international waters.
The new rules of the financial system will be the focus of the comparison, after the proposal of U.S. President Barack Obama to impose new limits on the size and risks. Proposal that has received the appreciation of the Financial Stability Board, an international organization led by the Bank of Italy governor Mario Draghi and the President of the ECB, Jean-Claude Trichet. But in light of the British pressure for the imposition of a tax on the financial system.
Assumptions on which works internazionle Monetary Fund: the Fund should be proposed in April - said earlier this month the Director General Dominique Strauss-Kahn - The introduction of a sort of "insurance premium" that the financial system will have to pay in order to protect in the event of new crises. In light of the emergence of individual national efforts, Flaherty will push for greater unity: "We will try to synchronize the approach," says the minister Canadas, as reported by the American press.
Another hot topic will be the world economic recovery: compared to October, when it was held the last meeting of G7 Finance Ministers and Governors in Istanbul, the economy looks more solid. The U.S. GDP in the fourth quarter jumped by 5.7%. The IMF has revised upward estimates of global growth in 2010. But unemployment remains the knot, to 10% on both sides of the Atlantic.
Out by the ministers and governors will keep a hint of foreign exchange (The Canada landlord has repeatedly requested an appreciation of the yen), on global imbalances and trade. The Canada also intends to ask the G7 countries to do more to help Haiti in terms of debt reduction.
Photo: Dominique Strauss-Khan