{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP G7 finance ministers meet for talks; ADDS family photo' data-url='/boclips/videos/5c54c3cfd8eafeecae164113' data-video-url='/boclips/videos/5c54c3cfd8eafeecae164113' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWRAP G7 finance ministers meet for talks; ADDS family photo\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various exteriors of US Treasury building2. Various of photo-opportunity with Group of Seven finance officials at table3. G7 officials entering room and lining up4. Various of G7 officials posing for photos5. Group of G7 officials...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various exteriors of US Treasury building\u003cbr/\u003e2. Various of photo-opportunity with Group of Seven finance officials at table\u003cbr/\u003e3. G7 officials entering room and lining up\u003cbr/\u003e4. Various of G7 officials posing for photos\u003cbr/\u003e5. Group of G7 officials entering room, posing for photos (from left) From left Finance Ministers James M. Flaherty of Canada, Christine Lagarde of France, Peer Steinbruck of Germany, Treasury Secretary Henry Paulson, Tommaso Padoa-Schioppa of Italy, Fukushiro Nukaga of Japan, Chancellor of the Exchequer Alistair Darling of Great Britian, and Jean-Claude Juncker of Eurogroup. \u003cbr/\u003e6. Another group of official arriving for photos (from left) Central Bank Governors David A. Dodge of Canada, Christian Noyer of France, Axel A. Weber of Germany, Federal Reserve Chairman Ben S. Bernanke, Mario Draghi of Italy, Toshihiko Fukui of Japan, Mervyn King of England, and Jean-Claude Trichet of the European Central Bank.\u003cbr/\u003e7. Various of photo op with finance ministers and central bankers\u003cbr/\u003eFinance officials from the world's top economic powers pledged Friday to do all they can to limit damage to the global economy from a jarring credit crisis as Wall Street took another plunge.\u003cbr/\u003e\"We remained committed to doing our part in sustaining strong global growth,ďż˝ the finance officials said in a joint statement. While saying the functioning of global financial markets was improving somewhat, they warned that \"uneven conditions are likely to persist for some time and\u003cbr/\u003ewill require close monitoring.\"\u003cbr/\u003eThe turmoil that financial markets have suffered through in recent months dominated the Group of Seven discussions, which were hosted by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. \u003cbr/\u003eBesides, the United States, the other members of the G7 are Japan, Germany, France, Britain, Italy and Canada.\u003cbr/\u003eThe finance officials did not spell out a specific course of action. Rather, they sought to strike a confident tone that they are on top of the situation. \u003cbr/\u003eFinance officials also said they will seek to learn the causes and lessons from the turmoil.\u003cbr/\u003e\"Our response to recent financial turbulence must be based on full analysis of its causes,\" the officials said in their statement.\u003cbr/\u003eRisks to the global economy have intensified since finance officials from the Group of Seven countries last gathered in Washington in April.\u003cbr/\u003eThe housing slump in the United States has deepened. Problem mortgages have multiplied. Credit has dried up for risky and some not-so-risky borrowers. \u003cbr/\u003eThe spreading troubles unhinged Wall Street in the late summer and sent stocks worldwide into a tailspin.\u003cbr/\u003eIt appeared things had calmed down since, but Wall Street got unnerved again on Friday. \u003cbr/\u003eThe Dow Jones industrials plunged 366.94 points. Ominously, the tumble came on the 20-year anniversary of the Black Monday stock crash. This\u003cbr/\u003etime it was lackluster corporate earnings, credit concerns and rising oil prices that rattled investors.\u003cbr/\u003eGiven the economy's delicate state, there are worries that more bad news on these fronts could easily push edgy investors into another bout of panic and spook both businesses and individuals, whose spending and investment are critical to the world's economic health.\u003cbr/\u003eSurging oil prices also are complicating the global outlook. \u003cbr/\u003eThey briefly topped $90 a barrel, a new trading high, then eased a bit and closed at $88.60 a barrel Friday in the United States.\u003cbr/\u003eThe officials said the Financial Stability Forum - under the leadership of Bank of Italy Governor Mario Draghi - will form a group to look at the underlying causes of the recent market turbulence.\u003cbr/\u003eThe group will be asked to offer proposals in several areas, including risk management, accounting and valuation of sophisticated financial instruments called derivatives and the role of credit rating agencies in the debacle. \u003cbr/\u003eThe panel's final report isn't expected until April 2008.\u003cbr/\u003eOn another matter, the finance officials once again called on China to let its currency, the yuan, rise in value. \u003cbr/\u003eThat would raise the price of Chinese goods on world markets. China's undervalued currency is blamed for contributing to the United States' swollen trade deficits and the loss of millions of U.S. factory jobs.\u003cbr/\u003eThe G7 statement did not mention the big drop in the U.S. dollar, which has hit a record low against the euro, giving some European companies heartburn.\u003cbr/\u003eEurope is beginning to feel the pinch of that sharp decline. \u003cbr/\u003eIt is making French wine, Italian fashion and German cars more expensive purchases in the United States, which is the European Union's main export market. \u003cbr/\u003eThe weaker dollar, however, is good for U.S. companies because it makes their products less expensive to European buyers.\u003cbr/\u003eThe growing role of \"sovereign wealth funds\" - secretive government-controlled investment funds - in the global economy also was scrutinised. Officials suggested these funds should be more open in terms of their holdings and operations.\u003cbr/\u003eOn another matter, the G-7 officials said they would explore a proposal to set up an international clean technology fund, which President George W. Bush mentioned several weeks ago. \u003cbr/\u003eSuch a fund would promote clean energy projects in the developing world by financing the transition from traditional to more expensive clean-energy technology.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator 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