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Crunch talks 'not a crisis summit'
Crunch talks 'not a crisis summit'
Last Modified: 15 Apr 2008
By:
Bridgid Nzekwu, Jon Snow
Downing Street insists today's meeting between Gordon Brown and leading bankers is not a crisis summit.
The meeting was called to discuss ways of dealing with the global credit crunch.
The prime minister said lenders should pass last week's Bank of England interest rate cut onto their customers.
Today's meeting comes as new figures showed house prices falling yet again. A record number of surveyors have reported price drops last month, overtaking figures set during the price crash in the 1990s.
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After the collapse of the US sub-prime mortgage market, the global economy is in the throes of a credit crunch.
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