Financial Post G7 Record

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Financial Post, Weekly edition, Sat 17 Jun 95, page 1

Keywords: International finance Economic summits Halifax

G-7 sets out to restore financial stability

Alan Toulin

At the 21st G-7 annual meeting, industrial world leaders fended off the distractions of a political crisis in the Balkans and produced workman-like results for their three days of mainly economic talks.

In the economic sphere, the G-7 leaders, under the chairmanship of Prime Minister Jean Chretien, focused on a tight range of issues, scoring successes with an agenda to improve global financial stability and the promise of policies to rekindle economic growth.

Various leaders praised the nature of the Halifax summit and Chretien's stewardship of the meetings. Chretien has said he wanted to deflate some of the pomp that has grown around the summits.

''This is the most lively discussion yet of all the summits I've attended,'' said U.S. President Bill Clinton, who participated in his third G-7 meeting.

French President Jacques Chirac told reporters he hoped France could emulate Canada's lead by making next year's meeting in Lyon as intimate, frank and open as the Halifax sessions.

''I will continue in the same direction as the Canadian prime minister started - in other words we'll try to move toward more moderate proportions,'' Chirac said at his news conference.

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