Tim Geithner, U. S. Treasury Secretary talked about the dispute among the Group of Seven governments on Saturday and stressed that though the United States moved first, all members share "a deep commitment" to press forward and stick to the timetable for agreement by year end. EU delegation assured the G7 meeting that Greece's debt challenges will be managed with great care.

Geithner said that reforms including increased supervision of financial institutions to limit risk to broader markets will be done with great care to avoid putting the brakes on the economic recovery. He also asked to put President Barack Obama’s rules out of the hedge fund and private equity business that would limit proprietary trading by banks and also to limit their future growth through a new market share cap. "We all have somewhat different systems and these common standards we put in place are going to have to be complemented by slightly different approaches at the national level," he said.

Washington also expects that other countries will equally apply severe rules for capital and for behavior to prevent excessive risk-taking in future.

This G7 meeting was in no way different with the previous ones and repeated the need for China to move to a more flexible exchange rate regime. There was no specific discussion of China's exchange rate at the Arctic meeting.