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G7 says to 'cooperate' for market stability

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TOKYO – The Group of Seven rich nations will 'cooperate as appropriate' to bring stability to battered global markets, finance ministers and central bank chiefs said in a joint statement on Monday.

Published: Mon 27 Oct 2008, 10:08 AM

Updated: Sun 5 Apr 2015, 2:26 PM

  • By
  • (AFP)

'We affirm our shared interest in a strong and stable international financial system,' they said.

'We continue to monitor markets closely and cooperate as appropriate.'

The G7 ministers and bankers said that they were concerned about 'excessive volatility' in the value of the yen.

'We are concerned about the recent excessive volatility in the exchange rate of the yen and its possible adverse implications for economic and financial stability,' the G7 said in a statement issued by Japan.

The Group of Seven comprises Britain, Canada, France, Germany, Italy, Japan and the United States.



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