All leaders have been involved in supporting more stimulus, including German Chancellor Angela Merkel. Germany has traditionally opposed strong loans to boost economic growth. The country softened its position somewhat during the course of the crisis.
The administration of US President Joe Biden has also urged its allies to continue pumping money into the economy. Finance Minister Janet Yellen had previously called on the G7 nations to “make significant progress”.
According to the source, the G7 countries were said to have discussed a long-term policy to ensure the soundness of public finances. This reiterated the position of a meeting of finance ministers earlier this month. Countries will also agree that the current high inflation is temporary.
Italian Prime Minister Mario Draghi stressed the importance of measures to reduce unemployment, such as retraining and support for young workers. The source said that this proposal will have the support of Canadian Prime Minister Justin Trudeau.
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