G-7 Ministers Discuss Bank Reform, Tax Cheats

San Francisco (MarketWatch MCT) —

The finance ministers of the G-7 nations met in the U.K. Saturday, focusing on bank reform and efforts to cut down on tax evasion.

At the meeting, held in the English town of Aylesbury, George Osborne, the U.K.’s chancellor of the exchequer, said the ministers, who include finance chiefs from the United States, Canada, Germany, Japan, France and Italy, reached a consensus to ensure that no banks are “too big to fail.”

Osborne also said there was agreement among the ministers about efforts to apprehend tax evaders, and that he wanted to see more action taken by tax havens such as the British island of Jersey and the Cayman Islands.

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