France: global imbalances risk causing new crisis

Source: AP

PARIS – France's finance minister says the world's strongest economies will find themselves in a new crisis if they fail to address dangerous imbalances in the world economy.

Christine Lagarde said Friday that the status quo of some countries building up huge surpluses while others run steep deficits "leads us straight into the wall of another debt crisis."

Lagarde made the comments at a financial conference in Paris that kicks off a gathering of finance ministers and central bank governors of the Group of 20 industrialized and fastest developing nations in Paris.

At the meeting, the world's top financial officials hope to draw up a list of indicators that best measure dangerous imbalances.

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