G7 financial leaders to meet in attempt to solve European debt crisisSeptember 8, 2011 - 11:27 AMT PanARMENIAN.Net - The world's top financial leaders meet Friday, September 9, in France to work on a plan to solve the European debt crisis that is rattling markets and to avoid another recession by boosting growth. The finance ministers and central bankers from the G7 major industrialised economies will also focus on the health of European banking system, which in August was shaken by sudden sell-offs sparked by investor anxiety. International Monetary Fund chief Christine Lagarde will also join the ministers from Canada, the United States, Japan, Germany, Britain, France and Italy at the meeting in the Mediterranean port city of Marseille. France - the host and this year's head of the G7 and the wider G20 - said this week it wanted the two-day meeting to reach a "coordinated response" that would boost growth, create employment and help pay off debt. Financial regulation will also be tackled in a debate hosted by future European Central Bank head Mario Draghi. The meeting comes at a time of high political tension in Europe's major economies over the debt crisis, with governments struggling to get deep reform and austerity measures through parliament. The G7 ministers will not be issuing a final communiqué, AFP reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. |