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Abe warns G7 of 2008 replay

Abe hopes, to use a G7 statement on the world economy as cover for a domestic fiscal package


Group of Seven leaders voiced concern about emerging economies at a summit in Japan on Thursday as their host, Prime Minister Shinzo Abe, made a pointed comparison to the 2008 global financial crisis but not all his G7 partners appeared to agree. The G7 leaders did agree on the need for flexible spending to spur world growth but the timing and amount depended on each country, Deputy Chief Cabinet Secretary Hiroshige Seko told reporters, adding some countries saw no need for such spending. Britain and Germany have been resisting calls for fiscal stimulus. "G7 leaders voiced the view ...

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First Published: Fri, May 27 2016. 00:08 IST