G7 finance chiefs discuss growth risks, urge deal on Greece

Thu May 28, 2015 7:09am EDT
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* Growth worries top agenda for G7 finance chiefs

* Market volatility adds to risks for global recovery

* G7 officials discussing Greece on sidelines of talks

* U.S. presses Europe, IMF to show flexibility on Greece

* IMF, EU officials say much work to do for Greece deal

By Gernot Heller and Paul Carrel

DRESDEN, Germany, May 28 (Reuters) - Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy.

The threat of a Greek default, rising oil prices and bond market turmoil are fuelling investor nervousness about an unwinding of the global economic recovery. A slowdown in China -- not present at the talks in Dresden, Germany -- is adding to the concern.

Speaking before meeting the Group of Seven finance chiefs, International Monetary Fund Managing Director Christine Lagarde said there was still a lot of work to do before Greece and its international lenders could clinch a cash-for-reforms deal.   Continued...