Special Report: Global Financial Crisis

    ROME, Feb. 14 (Xinhua) -- Italy's Economic and Finance Minister Giulio Tremonti said in Rome on Saturday that the urgent need now for all countries is to make joint efforts for building an economic order with new rules and standards.

    The new order should function in the framework of the global markets, Tremonti said in a press briefing after a meeting of the Group of seven industrialized countries in Rome.

    Current worldwide financial crisis should be mainly attributed to the shortage of rules in the financial market and shortage of confidence to this sector, he told reporters.

    Protecting interests of consumers' saving and stabilizing financial system should be top priority for all governments to deal with financial crisis, he added.

    The two-day G7 meeting ended in Rome Saturday afternoon with a communique, stressing the fight against recession and protectionism "top priority" for stabilizing global economy and financial markets.

    The G7 finance ministers and central bank governors made their commitments to "using the full range of policy tools to support growth and employment and strengthen the financial sector."

    "The G7 commit to take any further action that may prove necessary to re-establish full confidence in the global financial system," they said.

    The G7 includes Britain, Canada, France, Germany, Italy, Japan and the United States. The G7 in recent years has invited Russia to the gathering as a group of eight powers. The current rotating presidency, Italy hosts all G8 meetings in 2009.