At a meeting on 10th and 11th May 2013 the G7 Finance Ministers and the governors of central banks (Germany, Canada, US, France, UK, Italy and Japan) committed to "encouraging" economic recovery, in spite of differences in pace in terms of reducing deficits. Whilst the recovery of the world economy is fragmented the US has called on Europe to change its direction in terms of austerity. However British Finance Minister, George Osborne, the craftsman of a severe austerity programme, guaranteed that there were finally "more points of agreement on budgetary policy than is commonly admitted." The Finance Ministers and central bank governors are "absolutely determined to make progress," in the fight against tax evasion, raised to priority status by the British G8 Presidency. This is due to be the focus of the G8 summit of Heads of State and government in June...
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