Finance ministers and central bankers of leading industrialized nations are meeting through Saturday in the southern French city of Marseilles to assess how to counter growing financial and economic problems. The Group of Seven meeting takes place amid warnings that leading industrialized economies risked tipping back into recession and of a growing financial crisis in the 17-nation eurozone. Speaking at London-based think tank Chatham House before heading to the Marseille talks, International Monetary Fund chief Christine Lagarde said that while each nation faces its own set of problems and solutions, she has one piece of advice for all G7 members. Grim economic news has hit most of the Group of Seven, which include the United States , France , Britain , Italy , Japan , Canada and Germany . A report published Thursday by the Paris-based Organization for Economic Cooperation and Development found growth was stalling in many leading economies. The Marseilles meeting is expected to tackle Europe 's growing debt crisis, which risks dragging in G7 member Italy along with French and German banks. It opened a day after President Barack Obama made a key speech on ways to boost jobs and economic recovery in the United States .