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Japan allays G7 fears of currency war as value of yen plummets

Posted on 13 May 2013

Japan convinced its partners in the Group of Seven leading industrial economies that it was not manipulating its currency as part of a bold attempt to get its economy out of a near two-decade period of stagnation.
At the conclusion of a two-day meeting between the leading financial representatives of the G-7 countries - the United States, Britain, Germany, France, Italy, Japan and Canada - British finance minister George Osborne said there was a formal acknowledgement that each member needed to secure their own country’s growth by balancing austerity measures with growth-enhancing policies…………………………………..Full Article: Source


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