G7 nations worried about global economic crisis -Scholz

STORY: "All members are concerned about the crisis we are confronting – falling growth rates in some countries, rising inflation, raw materials shortages, disrupted supply changes – these aren't small challenges," Scholz said in a televised statement from the idyllic Alpine location.

Scholz also emphasized close Trans-Atlantic coordination after what he called 'a very considered' conversation with U.S. President Joe Biden.

"Germany and the USA will always act together when it comes to questions of Ukraine's security," he said.

Scholz praised the unity amongst the G7 since the Russian invasion, saying this was causing Russia's Putin a big headache.

Scholz joined other leaders in condemning the attack on Kyiv.