G-7 Finance Ministers Meet as Euro Crisis Deepens

The finance ministers of the Group of Sever (G-7) nations met yesterday to discuss the review options that eurozone leaders have proposed to move forward on to create a stronger fiscal and political union. The G-7 agreed to monitor developments ahead of the larger G-20 summit planned for later this month in Mexico The United States, Canada, UK, France, Germany, Japan and Italy are members of the G-7. Treasury Secretary Timothy Geither and Federal Reserve President Benjamin Bernanke represented the United States at this meeting. The G-7 counterparts reviewed developments in the global economy and financial markets and the policy response under consideration including progress toward financial and fiscal union in Europe.