Harper says G7 fretting over "excessive" bank rescues

Sat Oct 11, 2008 2:07pm EDT
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LONDON, Ontario (Reuters) - The Group of Seven leading industrialized nations is concerned about what it sees as the excessive measures taken by some countries to rescue troubled banks, Canadian Prime Minister Stephen Harper said on Saturday.

"I think there's some concern among the G7 that some countries are going overboard and are getting into backdoor subsidies of banks in a way that is not in the long-run interests of the marketplace," he told reporters. He did not elaborate.

(Reporting by David Ljunggren; Editing by Eric Walsh)

<p>Conservative leader and Canada's Prime Minister Stephen Harper speaks during a campaign stop in Guelph, Ontario October 11, 2008. REUTERS/Chris Wattie</p>