The G7 group, a collection of finance ministers from leading industrialized nations, recently met in Essen, Germany. Several members made hopeful statements about the possibility that the next round of talks first held in Doha, Qatar, would lower trade barriers. After the G7 group expressed confidence that the sliding yen would recover, the Japanese currency hit a new low against the euro because many financial communities felt that the G7 did not see how big a problem the weak yen is. With the private investment vehicles known as hedge funds now being a $1.4 trillion industry, several G7 representatives supported Germany's proposals to promote greater transparency in the hedge fund market. Many worry about the possibility that a large hedge fund failure would lead to large problems in the international banks that lend to them.