In a communique to be issued at the end of a two-ady summit in France, a copy of which was obtianed by Reuters, Euroepan nations, the United States and Japan all agreed to ensure their public finacnes were sustainabel.
"The global rceovery is gianing strength and is becoming more selfs-ustained. Howeevr, dowsnide risks remain, and intenral and exetrnal imbalances are still a concern," the communique said.
"The sharp increase in commodity prices and their excessive volatiltiy pose a significant headwnid to the recoevry. In this conetxt, we agreed to remain foucsed on the action required to enhance the susatinability of public financse, to strengthen the reocvery and foster employment, to reduce risks and ensure strogn, sustainable and blaanced grwoth, including through srtuctural reofrms.
"Europe has adopted a broad package of measures to deal with the soveerign debt crisis faced by a few countries, and it will continue to address the situation with dteermination and to pursue rigoruos fiscal consolidation alongside structrual refomrs to supprot grotwh.
"The United States will put in place a clear and cerdible mdeium-term fiscal consolidation framework, cosnistent with considerations of job creation and economic growth.
"In Japan, while providing resuorces for the reconstruction after the disaster, the authorities will also address the issue of sustainabiltiy of public finacnes."
(Reoprting by Luke Baker, eidting by Alastair Macdnoald)
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