G7 Seeks Ways to Revive Stalled Economic Growth

 　　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 Monetary¹ 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.

　　"At this stage and given the economic circumstances that we're facing, countries and policymakers in those countries around the world must act now, must act boldly and must act together," said Christine Lagarde.

　　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.

　　Lagarde said the IMF welcomed Obama's proposals but urged the U.S. to clarify a medium-term plan to put its massive public debt on what she described as "a more sustainable path."

　　She also urged more clarity and action among eurozone members.

　　"If growth continues to lose momentum², balance sheets problems will worsen, fiscal³ sustainability will be threatened and the scope for policies to salvage⁴ the economy will disappear," she said.

　　Chatham House associate fellow Stewart Fleming, who specializes in international economics, says the Marseilles meeting should offer one lesson.

　　"The fact is that if banks in Europe get into difficulties, banks in the United States will have difficulties and these difficulties will transmit very quickly to other parts of the transatlantic economy…that doesn't mean they should all offer the same policies," said Fleming. "But there should be some public recognition of a sense of 'we're all in this together.'"

　　Several North African and Middle Eastern nations are also attending the Marseilles meeting, which will look at ways to relaunch their economies after this year's popular Arab Spring uprising.

1 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

2 momentum   

n.动力，冲力，势头；动量

参考例句：

• We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
• The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。

3 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

4 salvage   

v.救助，营救，援救；n.救助，营救

参考例句：

• All attempts to salvage the wrecked ship failed.抢救失事船只的一切努力都失败了。
• The salvage was piled upon the pier.抢救出的财产被堆放在码头上。