At G7 summit in Paris, the United States recognizes the risks that the war in the Middle East poses to the global economy

With an American president ostensibly hostile to multilateralism, the French presidency of the G7 was not absolutely certain, until a few days ago, of producing a joint communiqué, following the meeting of finance ministers and central bank governors. The big financiers of this “club of seven” (United States, France, Germany, United Kingdom, Italy, Canada and Japan) were gathered in Paris on Monday and Tuesday. They published two communiqués, the first, classic, from the G7, of 14 pages, and a second, supported by four observer countries, invited to Paris, Brazil, India, South Korea and Kenya.

Bercy had noted differences with the American Administration on the effects of the war in Iran on the world economy, which Washington tends to minimize. The common text, negotiated word for word, finally recognizes « that global economic uncertainty has increased risks to growth and inflation amid the ongoing conflict…