DELORS CALLS FOR G-7 MEETING
European Community Commission
President Jacques Delors called for a swift convening of a
meeting of the G-7 countries following the instability in
today's trading on world money and stock markets.
    He told a press conference here: "G-7 should meet discreetly
and quickly."
    Delors said if the dollar were to fall further against the
mark to levels around 1.60, the European Monetary System would
undergo a "test by fire."
    Delors said the current problems in the markets had been
caused by excessive growth in financial trading, excessive
deregulation and the failure of the fundamentals of the world
economy to adapt themselves quickly enough to changing
circumstances.
    He said it was "profoundly unjust" to blame it on recent
increases in West Germany.
 Reuter
