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Mortgage News You Can Use France's Mer says G7 must alter message on currency
Mer said in an interview with a small group of reporters in Washington that the markets had not understood the full message issued last September at a G7 meeting in Dubai. "We will try to do the maximum together to state that the wording of Dubai does not satisfy anyone and try to hatch a wording or expression that satisfies all of us, in today's context, not the context of last September," Mer said. "It's clear we didn't succeed in Dubai in the form of expression we used ... In Boca Raton, our presentation will have to be different to what it was in Dubai if for no other reason than to show markets that our position was badly expressed or to flesh it out according to (recent) trends," he added. He also said the growth outlook was looking better, adding that the International Monetary Fund was now predicting U.S. growth of around 4.5 percent in 2004 and growth of about 2 percent in Europe. Back to Original Article: Mortgage News You Can Use
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