Oil prices, China's yuan top agenda of Asia-Europe finance meeting

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=c8216624b2da5450&cat=3a8a80d6f705f8cc

Oil prices, China's yuan top agenda of Asia-Europe finance meeting
Asia and Europe's finance ministers are planning to call for stable oil prices in the face of surging oil costs which threaten global economic growth, delegates to a ministers' meeting said.

With world oil prices climbing to a new closing high Friday, the issue topped the agenda of discussions at the annual Asia-Europe Meeting (ASEM) of finance ministers in this northern Chinese city.




"What we are calling for is one, stable oil prices," Mitja Mavko, an official of the Slovenian finance ministry, told reporters on Saturday. "We (also) want to avoid volatility."

Oil producing countries will be urged to increase production levels in a final communique to be issued after the meeting Sunday, Mavko said.

An official from Slovakia said delegates backed the move.

"The only way to achieve (lower oil prices) is to increase production. I think they should," said Rastislav Sulla, counsellor with the embassy of Slovakia.

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I love that China is not budging on revaluing the yuan!!! Seeing the Congressmen screaming at Snow to make it so... just doesn't do anything for the Premier of China!!!

[The Doctor.]

1. This helps to shape just one more piece of the puzzle...

Nice catch.