finance ministers and central bank heads of the Group of Seven in a brief statement after a meeting in Istanbul confirmed their position on exchange rates, again highlighting with names only the Chinese yuan.

problem of the weak dollar, which declined over the past six months to major foreign currencies has 14%, remained outside the official communique.

However, in an interview with reporters after meeting U.S. Treasury Timothy Geithner assured that Washington would do everything necessary to maintain confidence in U.S. currency, and stressed that the U.S. is very important that the dollar remained strong.

from China are waiting for action

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G7 statement on currencies has not changed compared with April. As confirmed in the communiqué, Excessive volatility and disorderly movements in exchange rates negatively affect the economic and financial stability.

We welcome the continuing commitment of China to move toward more flexible exchange rate, which should lead to a further strengthening of the yuan's effective exchange rate and promote more balanced growth of the Chinese and world economy - the document says.

from China are waiting for a faster revaluation of the currency: the last year the yuan has not changed against the dollar. But now China as a member of the twenty there are new obligations arising from the promise of the leading countries more actively to combat the imbalances in the global economy.

During the last period, representatives of several countries to publicly express their concern the depreciation of the dollar, which adversely affects the economy of these countries, and these statements have had on last week, tangible support for the dollar.

As communiqué leaders again refrained from making any declarations about the dollar, the market may perceive this as a carte blanche for further weakening the U.S. currency.

After the meeting, as reported by agency Bloomberg, French Finance Minister Christine Lagarde reiterated the importance of strong dollar. With confirmation of the commitment of Washington's strong dollar policy was made and Geithner.

But it is characteristic that Japan, which also experienced problems, but because of the excessive growth rate of the national currency, the won significantly more aggressive stance. Japanese Finance Minister Hirohisa Fujii dropped strong hints that the Government may conduct intervention, if the market goes too far.

If you show excessive currency fluctuations in the biased direction, we will take steps - he said. The minister did not answer the question whether it's to the current situation with the yen.

G7 in the past - if necessary - for coordinated action on the currency market. In 2000, the leading central banks have come to support the euro. Prior to that in the 80 years was carried out jointly by the devaluation of the dollar.

G7 is not yet ready to bury myself

Although there are encouraging signs, the prospects for economic growth remains fragile, the situation on the labor market has not improved, so calm down - sooner, said in a statement.

world's leading countries are prepared to act to save the stimulus package, while the economic recovery will not be a done deal.

We must avoid the mistakes that were made during past crises, when politicians pressed the brakes too quickly, - considers Minister of Finance of the USA Geithner.

tone of statements G7 Communiqué repeats motifs of twenty, which held its summit a week ago.

G20, as is known, has proclaimed himself as a new major global forum for economic cooperation - instead of the elite group of seven /eight.

In this situation, many said that the financial Seven, whose value is now more can go to the political plane, in general, do without the traditional application.

Seven in Istanbul discussed the priorities of its policy and stated in the communiqué of the intention to lead by example to others in carrying out decisions of the summit of twenty. However, she intends to continue to work in the format G7, while cooperating with other members of the G20.

The existence of G7 absolutely justified - consider Lagarde. - We felt that it is important to continue to work together. Will we regularly issue a communiqué? see.

Deputy Minister of Finance of Germany Jörg Asmussen told reporters that in the future club of leading industrialized countries of the world will work more informally, by changing the format of its activities.

G7 was created after the crisis of the mid 70's, when demand tougher policy coordination major industrial powers in the world. G7 members are the United States, Japan, Germany, France, Italy, United Kingdom, Canada. Russia is also regularly invited to attend meetings of financial Seven.