G7 nations meeting addressing weak dollar

Feb. 6, 2004 at 4:43 PM

BOCA RATON, Fla., Feb. 6 (UPI) -- Finance ministers from Europe, North America and Asia are meeting in Florida, focusing on the strength and stability of the U.S. dollar.

Treasury Secretary John Snow is representing the United States in two days of meetings with other members of the Group of Seven Nations -- Canada, Japan, Great Britain, Germany, France and Italy.

The G-7 meeting will wind up Saturday afternoon with a communique outlining any agreements.

Among the more contentious issues will be the sagging strength of the U.S. dollar and America's deficits.

The Europeans want a stronger dollar because a weak dollar makes European products less competitive on the global market.

The administration is aware, however, that a weak dollar helps American exports and that could help the U.S. jobless picture.

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