Heading to G7, U.S. tells Japan to stick to currency rules

[dipsydoodle]

Source: Reuters

(Reuters) - The United States told Japan on Friday to stick to the rules when it came to the value of its currency, setting the stage for a potentially frank meeting of Group of Seven finance ministers outside London.

Treasury Secretary Jack Lew said Japan had "growth issues" that needed to be dealt with but that its attempts to stimulate its economy needed to stay within the bounds of international agreements to avoid competitive devaluations.

"I'm just going to refer back to the ground rules and the fact that we've made clear that we'll keep an eye on that," Lew told the CNBC news channel.

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Policymakers are concerned that Japan is engineering an export-led recovery that could hinder other regions' ability to grow.

Read more: http://uk.reuters.com/article/2013/05/10/uk-g-idUKBRE94817U20130510

[KamaAina]

1. G7?

When did Russia get kicked out?

[dipsydoodle]

2. Russia is in the G8

G7 preceded that but still meet.

[KamaAina]

3. Oh. I thought Russia's entry changed it to the G8

You know, like the Big Ten. Or not.