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What can world leaders do?
What can world leaders do?
Last Modified: 10 Oct 2008
By:
Jonathan Rugman
Finance ministers from the G7 gather in Washington to try to agree co-ordinated action: Britain's bank rescue plan is seen as a key solution.
President Bush said today as the markets continued their descent:
"We can solve this crisis and we will."
While he was speaking, finance ministers and central bankers from the G7 countries were preparing to meet in Washington to consider what they can do to avoid a deep recession.
The British government is pressing other nations to adopt its plan to restore confidence in the financial system.
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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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