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G7 Finance Ministers To Address Faltering Global Growth

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http://www.reuters.com/article/2015/05/24/us-global-economy-idUSKBN0O907G20150524

Finance ministers from the world's largest developed economies meet in Germany this week against a backdrop of faltering global growth, scant inflationary pressures and a bond market in turmoil.

High on their agenda -- even if unofficially -- will be Greece and how it can stay in the troubled euro zone. Figures due on Friday from the United States that will almost certainly show the world's biggest economy contracted last quarter are also likely to feature.

"With the negotiations between Greece and the rest of the euro area at an impasse, an impatient German Chancellor Merkel has warned that an agreement must be reached before the end of the month," said Thomas Costerg, senior economist at Standard Chartered.

Greece cannot make a payment to the International Monetary Fund due on June 5 unless foreign lenders disburse more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens it is on the verge of default.

Analysts largely agree the country's cash squeeze is increasingly acute and fresh aid will be needed sooner or later to avoid bankruptcy.

Merkel and French President Francois Hollande held talks on Thursday with Greek Prime Minister Alexis Tsipras on the sidelines of a European Union summit in Riga, hoping to speed the resolution of Athens' debt crisis.

With business growth slowing in the euro zone and factory activity contracting again in China, market watchers have been looking to the United States to drive a pick-up in growth.

But a preliminary Reuters poll last week predicted that adjusted first quarter U.S. GDP numbers USGDPP=ECI due on Friday would be massively revised down and show a 0.7 percent contraction in the first three months of this year.

"The poor Q1 2015 performance follows growth of just 2.2 percent in Q4 2014, so there has been very little growth over the last couple of quarters," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank.

Clearly previous interventions have been an astounding success, clearly we need more stimulus and more interference to keep the bubble inflated. It seems they are determined to keep demand at hubris levels and hope they don't trigger a deflationary collapse.

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These guys must be Gods...everything they do fails.

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http://www.reuters.com/article/2015/05/24/us-global-economy-idUSKBN0O907G20150524

Clearly previous interventions have been an astounding success, clearly we need more stimulus and more interference to keep the bubble inflated. It seems they are determined to keep demand at hubris levels and hope they don't trigger a deflationary collapse.

..the economic blind talking to the economic blind...jokers.... :rolleyes:

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http://www.reuters.com/article/2015/05/24/us-global-economy-idUSKBN0O907G20150524

Clearly previous interventions have been an astounding success, clearly we need more stimulus and more interference to keep the bubble inflated. It seems they are determined to keep demand at hubris levels and hope they don't trigger a deflationary collapse.

Mostly need Germany to stop cheating everyone else and pivot from source of global savings supply to global consumer.

Quite apt theyre meeting in Germany but Greece is a tiny irrelevant distraction from the real issue - Germany

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