http;//www.wsws.org/articles/2003/may2003/g8-m20_prn.shtml
Worsening Global Economic Problems See G8 Divisions Deepen

The meeting this past weekend in France of G8 finance ministers ended with
zero agreement on what to do about worsening global economic conditions.
The Australian Financial Review reported "The finance ministers made it
clear there was no prospect of any coordinated monetary, fiscal or currency
policy action, despite the extreme pressure being brought to bear on the
European and Japanese economies by the steep slide in the US dollar
against their currencies." Britain's Financial Times said of policymakers
that they were "living in a parallel universe, one inhabited by
permanently deluded optimists", and reminded readers that the finance
ministers have been making optimistic predictions about a turnaround since
early 2001. The dollar is now down 25% from a year ago vs the Euro, down
40% from its peak in late 2000, new figures show negative growth in
The Netherlands, Germany and Italy, Japan's banking system is again
teetering following the gov't rescue of one of the mega-banks...

Jeff