PARIS, Aug 8 (Reuters) - The Group of Seven nations is committed to taking coordinated action to ensure liquidity and to support financial market functioning, financial stability and economic growth, G7 finance ministers and central bank governors said in a statement.

"These actions, together with continuing fiscal discipline efforts will enable long-term fiscal sustainability," the statement released early on Monday said.

"No change in fundamentals warrants the recent financial tensions faced by Spain and Italy. We welcome the additional policy measures announced by Italy and Spain to strengthen fiscal discipline and underpin the recovery in economic activity and job creation," it added.

(Reporting by Geert De Clercq; Editing by Michael Roddy)