Leading Industrial Nations Agree To Joint Agreement

The current financial crisis in the United States is pushing the seven leading industrial nations to come together and discuss a joint action in an effort to combat the market crunch that is being suffered. Foreign exchange rates are also on the agenda for Friday’s meeting. According to the German Deputy Finance Minister Thomas Mirow, the meeting should produce an appropriate response from the G7 in preparation for a meeting with the seven nation’s financial ministers and central bank administrators that will occur later in the year in Washington, D.C. The decision the nations make will be based on the final report submitted to them by the Financial Stability Forum who have been looking for ways to stabilize the international economy.The Group of Seven – as this group of industrial nations is collectively known as – are looking for something that will indicate the joint action will help boost the American dollar or even counter the out of control housing market. The financial fallout is causing problems across the world which needs to be addressed. The meeting will focus on the international financial market and the effects it is having on other nations.