Italian Prime Minister Silvio Berlusconi has said that G7 Finance Ministers would meet within days to discuss measures to combat the eurozone debt crisis, which is the main cause of the growing turmoil in global financial markets. He was speaking at a specially-convened press conference after European markets closed showing continued instability on the stock markets despite better than expected US jobs figures. He said Italy would speed up measures to balance its budget by 2013, a year earlier than planned and work to amend the Italian constitution to make balanced budgets a requirement for future governments. He also announced some labour market reforms. European markets closed sharply lower for the second day on Friday but US shares recovered to close slightly higher.
News On AIR | August 6, 2011 9:45 AM
‘G7 to discuss plan on eurozone crisis soon’