Login
ISCOVER
The G7 nations have pledged to take “decisive action” against the global financial crisis, following their meeting in Washington over the weekend.
While the tough talking was not backed by any concrete action, there is now little doubt that the world’s leading economies are working cohesively to beat the spiralling crisis.
In a statement following the group’s meetings, President Bush said the group would support and prevent the failure of systemically important financial institutions, provide robust protection for retail bank deposits and ensure financial institutions were able to raise capital.
Mr Bush said the group had recognised that what affects Wall Street also affected “Main Street” and conceded that the crisis was now truly global and therefore required collaborative action.
“We’re in this together, we’ll come through it together,” he said.
Published: 13-10-08
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Today's other news
- Canberra broker admits to fraud
- Mortgage holders still confident about financial position
- Funding costs ease
- Suncorp fails to attract buyer
- Weekend auctions disappoint
- Government guarantees bank deposits
