G7 finance chiefs meet with growth problem to fix

Wed May 27, 2015 4:47am EDT
 
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* G7 finance ministers and central bankers meet in Dresden

* Flagging global growth tops agenda

* U.S. expected to press Europe to reach deal on Greece

* Growing importance of Chinese yuan also up for discussion

By Paul Carrel

DRESDEN, Germany, May 27 (Reuters) - Little more than a gentlemen's club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China's claims to economic power.

Topping the agenda for the finance chiefs from the Group of Seven industrial nations is how to keep a faltering global recovery on track as the threat of a Greek default, rising oil prices and bond market turmoil fuel investor nervousness.

The United States is likely to use the talks, beginning late on Wednesday and running through to Friday, as an opportunity to press Europe to reach a funding-for-reforms deal with Greece, an official close to the discussions said.

"I would expect the Americans to put pressure on the Europeans in Dresden about Greece," the official said.   Continued...