G-7 Leaders Discuss Policy Amid War Jitters
Finance ministers from the Group of 7 industrial powers met in Paris, putting a brave face on falling growth rates and the threat of an oil price surge in the event of a war in Iraq.
European Central Bank chief Wim Duisenberg appeared to promise an interest-rate cut if the economy weakens further.
“We will not hesitate to act,” he said at the meeting of the United States, Japan, Germany, Italy, Britain, France and Canada.
Europeans voiced concern about the rising trade and fiscal deficits in the U.S. and tax cut plans.
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