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G7 leaders set to discuss Europe financial crisis

  • Finance ministers and central bank governors of the Group of Seven (G7) industrialized nations are due to hold a conference call to discuss the European debt crisis, with a focus on the worsening Spanish banking sector and a possible exit of Greece from the euro zone.

    However, an unnamed G7 source has said that with the United States’ unwillingness to provide the International Monetary Fund with money to assist Europe, there is doubt over the global community acting collectively to contain the crisis.

    No ministerial talks have so far been scheduled for the G20, which includes the G7 along with Brazil, Russia, India, China and other emerging and developed countries.