The US pressed Europe's strongest economies to give "unequivocal" financial support to weaker euro zone states to overcome a debt crisis threatening world economic recovery, but Germany stressed the top priority of cutting deficits.

In joint "terms of reference" agreed after hours of talks in the French port city of Marseille, G7 finance ministers and central bankers signaled no shift in policy to try to revive flagging growth.

"We met at a time of new challenges to ... growth, fiscal deficits and sovereign debt... There are now clear signs of a slowdown in global growth. We are committed to a strong and coordinated response to these challenges," they declared.

"Given the still fragile nature of the recovery, we must tread the difficult path of achieving fiscal adjustment plans while supporting economic activity, taking into account different national circumstances," they said in an attempt to square reconcile austerity and growth.