The Big Boys Gather Where It's Cold To Discuss World Finances

"World financial leaders focusing on budget crises

By JANE WARDELL and MARTIN CRUTSINGER AP Business Writers 

 

IQALUIT, Nunavut - A crisis in Europe over budget belt-tightening has upended global markets and seized the attention of financial leaders meeting in the Canadian Arctic.
Finance ministers and central bankers from the Group of Seven major industrial countries also planned to try on Saturday to settle differences on banking industry changes. There are that go-it-alone action such as President Barack Obama's plan to break up big banks will further hamper the fledging economic recovery. 

Canadian Finance Minister Jim Flaherty hoped his choice of the remote town of Iqaluit, population 7,000, where temperatures can dip to 40 degrees below zero in February, would make officials focus on the task ahead. 

The United States was represented by Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke. The G-7 consists of the United States, Japan, Germany, Britain, France, Italy and Canada."

Continue reading->>

Click here for information on Iqaluit, Nunavut Canada

All this "hot air" gathered in one place in the Arctic is sure to effect Global Warming.