BERLIN, June 29 German Finance Minster Wolfgang
Schaeuble has urged the Group of Seven (G7) leading
industrialised nations to push on with budget consolidation and
reforms, days before Germany takes over presidency of the group.
In a video message made available on Sunday, Schaeuble said
Germany had three main aims during its tenure as president -
bringing more momentum into the economy and creating sustained
growth, bridging gaps in financial regulation, and working in
closer international co-operation on tax evasion.
"The global economy has recovered well from the financial
crisis. Now we need to consolidate this... We need sustainable
growth ... for which solid state finances and less debt are
Regulation of the shadow banking sector was another
priority, he said.
(Reporting by Gernot Heller; Writing by Alexandra Hudson;
Editing by Stephen Powell)