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Latest Business News

Finance Ministers Start G-8 Meeting

Friday, May 18, 2007 10:56:42 AM
By MATT MOORE

View on the conference building prior to the meeting of the G 8 Finance Ministers in Werder near Berlin on Friday, May 18, 2007. Finance ministers from the Group of Eight nations began arriving Friday at a resort outside Berlin to hammer out issues such as the influence of hedge funds and the weakening dollar. (AP Photo/Fritz Reiss)WERDER-HAVEL, Germany (AP) - Germany's finance minister cautioned Friday against expecting a fast agreement on tighter rules for hedge funds as he hosted a meeting of his Group of Eight counterparts.

The ministers started a two-day meeting free of one potential irritant — the future of World Bank President Paul Wolfowitz, who announced his resignation on Thursday. European ministers had been pressing for the departure of the American, who canceled a planned trip to the gathering outside Berlin.

German Finance Minister Peer Steinbrueck voiced hope that the meeting would address the issue of hedge funds, aid to Africa and climate change.


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