G-7 WANTS TO SHOW MARKETS ITS RESOLVE - MIYAZAWA
Japanese Finance Minister Kiichi
Miyazawa said the Group of Seven (G-7) countries reaffirmed
their Paris accord on stabilising currencies to convince the
market of their resolve.
    At a news conference after yesterday's G-7 meeting,
Miyazawa said the ministers and central bank governors did not
believe a totally new statement was needed. The speculative
selling did not reflect economic fundamentals, and since the
fundamentals had not changed only a reaffirmation of the goals
of the Paris accord was needed, he said.
    He said this test of the G-7 nations' resolve had
concentrated on the yen, while other currencies, especially the
mark, had remained stable.
 Reuter
