The finance heads of the Group of Seven industrial powers held talks on the eurozone crisis Tuesday, it was reported.
“The G-7 ministers and governors reviewed developments in the global economy and financial markets and the policy response under consideration, including the progress towards financial and fiscal union in Europe,” the U.S. Treasury said in a statement, according to Bloomberg.
“We have reached a point where we need to have a common understanding about the problems we are facing,” Japanese Finance Minister Jun Azumi told reporters before the talks, Reuters reported.
Ministers and central bankers from Canada, Germany, the U.S., Italy, Japan, the U.K., and France are to hold a conference call to place more pressure on European countries to act quickly, Canadian Finance Minister Jim Flaherty announced late on Monday.
“Markets remain skeptical that the measures taken thus far are sufficient to secure the recovery in Europe and remove the risk that the crisis will deepen,” White House press secretary Jay Carney told reporters, according to Reuters.
