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'G8 will not discuss forex issues'

Italian government assures that the world leaders attending G8 summit would not discuss foreign exchange issues.

world Updated: Jun 11, 2007 15:04 IST

World leaders attending the Group of Eight summit in Germany this week will not discuss foreign exchange issues, Italian Prime Minister Romano Prodi's diplomatic adviser Stefano Sannino said on Monday.

The summit's conclusions, however, will incorporate a document from economy ministers prepared at their meeting in Potsdam last month which addresses issues including foreign exchange rates, Sannino said.

Prodi last month raised the possibility of taking up his concerns about the strong euro at the G8, saying his worries were shared by many world leaders.

An adviser to Nicolas Sarkozy has said the new French president wanted to put his case for a weaker euro at the summit, but the meeting's German hosts have said the issue is not on the agenda.

"A negotiation and a discussion on this matter is not expected at this point," Sannino said.

"There was a very strong mandate given to the finance ministers that produced a report about the economy that should be endorsed by the heads of state and the G8 governments," Sannino said.

Sannino said "a few paragraphs" on the world economy will be part of the final declaration and that at least one of them would mention foreign exchange rate issues.

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