Global General

G-7 finance chiefs to hold joint talks on Japan

(Agencies)
Updated: 2011-03-17 20:52

PARIS -- France says finance chiefs from the Group of Seven industrialized nations will hold a video conference call on the situation in Japan, where a devastating earthquake, tsunami and nuclear crisis have roiled markets and propelled the yen to record highs.

French Finance Ministry spokesman Jean-Marc Plantade said the talks will "probably" happen late Thursday Paris time, but gave no further details.

Japan's economy and global markets have been hit hard by Friday's natural disasters, which killed thousands and triggered an unfolding nuclear crisis. Analysts at Goldman Sachs estimate losses could reach $200 billion, more than 3 percent of Japan's economic output.

France this year is host to the G-7, which is made up of Britain, the US, Germany, Italy, France, Canada and Japan.