Finance ministers gather to focus on budget and financial reform

The finance ministers of the Group of Seven and the governors of the central bank held a meeting from 5th to 6th in Nunavut, the capital of Iqaluit, Canada, focusing on sovereign debt crisis and financial sector reform.　　　　The "amateur" activities, such as riding a dog sled, tasting local delicacies and receiving special souvenirs, undoubtedly add a dash of lively romantic appeal to the atmosphere of serious "rivalry".　　Sled experience by the Meeting host Canada Finance Minister James Fleheux, a number of delegates 5th afternoon to experience the dog sled tour. "The weather was nice and beautiful this day," Flaherty told the Press. In the eyes of the local people, this may be the case. But for the coming from afar, the temperature 零下17摄氏度 absolutely "not to despise."　　Mervyn, Governor of the Bank of England, is wearing a fur coat with an eye-cap and a pair of big glasses on his face that make it almost impossible to identify uncover. The governor of the Bank of Canada, Carney, took a sled and suddenly headed in the wrong direction. It turned out that the sled drivers were not seated, and several dogs were impatient to step out. "Hey, don't leave me!"　　Carney shouted to the driver. Flaherty said that the number of boarding sleds exceeded his previous expectations, and that "the crowd was excited". Participants included IMF chief Dominique Strauss-Kahn, Italy's minister of Economic and Finance Tremonti, and the Italian central bank governor Draghi.　　Japanese Finance Minister Naoto Kan, BOJ Governor Shirakawa and other people are willing to experience. U.S. Treasury Secretary Timothy and Federal Reserve Chairman Ben Bernanke did not participate in the event.　　　　Flaherty said, "I hope they hear people talking about today's interesting experiences at the dinner party, which will become more interesting and they may have a chance tomorrow."　　Secretly "rivalry" Iqaluit the number of residents of about 7000 people, 1500 kilometers from the North Pole, February average temperature of 零下32摄氏度, not to mention the chilly wind. Why did the meeting choose this town?　　Part of the reason, according to the Associated Press, is the Canadian government's intention to assert sovereignty over parts of the Arctic. With the global warming, the Arctic ice accelerated melting, making deep exploration and development of Arctic resources, commercial operation of the Atlantic to the Pacific "Northwest waterway" is possible.　　Countries such as Canada, Russia, the United States, Denmark and Norway have disputes over the sovereignty or economic exclusivity of the Arctic.　　The media reporter who participated in the meeting was given a gift bag containing local souvenirs, such as white whale or conical landmark, pepper and dried fish, carved with a soap stone. The souvenir contains a ribbon made of seal skin. European Union member States last year approved a ban on the importation of products made from seals, with a view to prompting Canada to ban the killing of seals.　　Some said the souvenir could be seen as a "response" by the Canadian government to the EU ban. The dining session is a good opportunity to showcase the food of Nunavut. 5th dinner dishes including local features Jiayu and North American Reindeer meat barbecue, 6th lunch served with Musk beefand vegetable Macaroni Soup, North American reindeer patty and so on.　　The two major concerns of the conference include controlling budget, financial sector reform and so on. The world's three biggest credit rating agencies, the standard and poor rating company, Fitch International credit Rating Limited and Moody's investment services company downgraded Greece's sovereign credit rating last December, triggering the Greek debt crisis.　　Many feared that the phenomenon could spread to other euro-zone countries, endangering the stability of the euro. Following Greece, Portugal, Spain, Italy, Ireland and other countries face similar risks due to slower economic growth and lower taxes than expected. Developed economies such as the US and Japan are facing a crisis in the face of high public debt.　　5th, the world's major stock markets fell to the lowest in 3 months, the euro against the dollar fell to a new low since last May. How to withdraw from the stimulus package to control the budget is a difficult problem for governments. "We all think it is necessary to continue the stimulus package," Flaherty said. Economic growth is not solid and private demand is not enough to replace public demand.　　"As for the financial sector reform, the major economies have made their own moves, for example, US President Barack Obama last month released signals of splitting up big banks and restricting proprietary trading by financial institutions, and Gordon Brown earlier proposed tax increases on bank speculation." Flaherty said that fiscal and financial policies were "not exactly consistent" and needed to be opened for dialogue.　　"It's not that everyone has to do the same thing at the same time, but everyone should be consistent," IMF official Lipsky told AFP. "I don't think they have to plan a ' relief ' program, but they need to show their resolve," said Catherine Stefansen, chief economist at the Us-based Aladdin Capital Holding Company, "we need to see how governments can act together ... It's not good to be silent. "(Yang Shuyi)