Canada sees additional G7 action on crisis

Mon Sep 22, 2008 5:06pm EDT
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OTTAWA (Reuters) - There are signs that G7 nations outside the United States will take action to mitigate the effects of the financial crisis, Canadian Finance Minister Jim Flaherty said on Monday.

"There are some indications already that there will be additional actions outside the United States ... that would be co-operative with what the United States has done," he said, referring to a statement by the Group of Seven industrialized nations earlier in the day. He gave no further details.

"There's no secret to the fact that the U.S. would like other jurisdictions to emulate their course of conduct, and that is to try to remove the illiquid assets that are destabilizing financial institutions in those countries where that is the case," he told reporters on a conference call.

"That is not the case in Canada."

(Reporting by David Ljunggren; editing by Rob Wilson)

<p>Canada's Finance Minister Jim Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa June 17, 2008. REUTERS/Chris Wattie</p>