G7 to hold emergency talks on debt crisis: Berlusconi

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Italy and France have agreed to call an emergency meeting of G7 finance ministers to discuss the debt crisis, Prime Minister Silvio Berlusconi said on Friday after talks with French President Nicolas Sarkozy.

Berlusconi told reporters that the meeting would be held "in a few days" and could pave the way for a full-blown summit of G8 leaders "if the finance ministers manage to agree on a common plan of action."

"The situation is very difficult and requires coordinated action. We have to recognise that the world has entered a global financial crisis that concerns all countries," Berlusconi said after talks with several European leaders.

He said he would speak to US President Barack Obama later on Friday.

"Nothing that is happening can be blamed on any one government. It is something that concerns the global financial situation," he added.

© 2011 AFP

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