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World

Group of 7 ministers convene economists for brainstorming on how to support shaky growth

Associated Press
Published | Updated
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    Christine Lagarde, Managing Director of International Monetary Fund, IWF, and Jim Yong Kim, President of the World Bank Group, share a smile as they look for their positions prior the a group photo session during the G7 Finance Ministers meeting in the Dresden Castle in Dresden, eastern Germany, Thursday, May 28, 2015. The G7 Finance Ministers meeting is being held in Dresden from May 27 to May 29, 2015. (AP Photo/Jens Meyer) (The Associated Press)

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    Pier Carlo Padoan, Finance Minister of Italy, Michel Sapin, Finance Minister of France, Christine Lagarde, Managing Director of International Monetary Fund, IWF, Jens Weidmann, president of the German Central Bank, German Finance Minister Wolfgang Schaeuble, Jacob J. Lew, US Secretary of the Treasury, Japanese Finance Minister Taro Aso, Joe Oliver, Finance Minister of Canada, British Chancellor of the Exchequer George Osborne, first row from left to right, Ignazio Visco, Governor of the Banca dโ€™Italia, Mario Draghi, President of the European Central Bank, Stephen S. Poloz, Governor of the Bank of Canada, Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs, Steve B. Kamin, director of the Division of International Finance, Haruhiko Kuroda, Governor of the Bank of Japan, Jim Yong Kim, President of the World Bank Group, Bank of England's Governor Mark Carney, Christian Noyer, Governor of the Banque de France, and Jose Angel Gurria, OECD Secretary General, second row from left to right, pose for a group photo during the G7 Finance Ministers meeting at the Dresden Castle in Dresden, eastern Germany, Thursday, May 28, 2015. The G7 Finance Ministers meeting is being held in Dresden from May 27 to May 29, 2015. (AP Photo/Jens Meyer) (The Associated Press)

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    Jens Weidmann, president of the German Central Bank, talks to Christine Lagarde, Managing Director of International Monetary Fund, IWF, prior to a group photo session during the G7 Finance Ministers meeting in the Dresden Castle in Dresden, eastern Germany, Thursday, May 28, 2015. The G7 Finance Ministers meeting is being held in Dresden from May 27 to May 29, 2015. (AP Photo/Jens Meyer) (The Associated Press)

FRANKFURT, Germany โ€“ Officials from the Group of Seven rich democracies convened some of the world's best-known economists for a brainstorming session on how to keep the global upswing going.

The meeting of finance ministers and central bank officials in Dresden is taking place amid concern that recoveries in Europe and the United States face obstacles before they become truly broad and self-sustaining.

Worries include volatility in stock and bond markets and a lack of investment by governments and businesses in new projects.

The ministers heard views Thursday from former U.S. Treasury Secretary Larry Summers, who has warned that weak investment could lead to long-term stagnation, and Robert Shiller of Yale University, who has studied speculative market booms, among others.

The G-7 includes: Britain, Canada, France, Germany, Japan, Italy, and the U.S.

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