France calls for G7 finmin, central bank on Japan‎

France calls for G7 finmin, central bank on Japan‎
# 17 March 2011 11:55 (UTC +04:00)
Baku - APA-Economics. France said on Wednesday that G7 finance ministers and central bankers will hold a conference call to discuss the economic impact of Japan’s crisis and possible steps to calm volatile financial markets, Moneycontrol reported.
A government source said telephone talks between the Group of Seven rich nations would take place before the weekend. They will address the broad implications of the crisis, including its impact on economic growth, energy output and the supply chain, and its effect on volatile markets.
Friday’s devastating earthquake and a mounting nuclear crisis have wiped hundreds of billions of dollars off global stock markets and jolted the yen to a four-month high against the dollar, creating expectations of market intervention.
"We need to be at the disposal of our Japanese friends on monetary matters," said Finance Minister Christine Lagarde, who chairs meetings of G8 and G20 finance ministers this year.
"I have asked for a meeting of G7 finance ministers and central bankers so that we can see in what way we can take part in their debt issues and how we can react on a financial level," Lagarde told reporters after a weekly cabinet meeting.
President Nicolas Sarkozy said France, a major producer of nuclear energy, would convene a G20 meeting on future options for the energy sector, after the problems at Japan’s Fukushima reactor created an international backlash.
G7 ministers will use this week’s call to ask for an update from Japan’s finance minister on the impact of the earthquake and tsunami before moving on to specific issues like the volatility in financial markets, the government source said.
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