Schröder Warns Weak Dollar Threatens World Trade

The G-20 meeting of ministers of economy and the governors of central banks of developing and developed countries has started in Berlin, the capital of Germany. Turkish Minister of State for Economy, Ali Babacan and The Central Bank Governor Sureyya Serdengecti are attending the meeting. Schröder answered journalists’ questions before lunch, saying he wanted the central banks to take precautions for the USA budget deficit’s effect on the Euro-Dollar exchange rate. In German Minister of Finance Hans Eichel’s opening speech, he said that an international project should be conducted to solve global problems. Eichel, in a statement after the meeting, said that the global economy would grow strongly next year although it would be a little less than this year. Eichel announced that US Treasury Secretary John Snow promised that the US budget would be stronger. It is also expected that the Euro’s rise and the Dollar’s fail will be discussed.

Turkish Minister of State for Economy, Ali Babacan and US Treasury Secretary John Snow met before the meeting. He also met with the President of the International Monetary Fund (IMF), Rodrigo Rato after the meeting. Babacan said about the meeting: "We are discussing here economic issues about the whole world."