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October 11, 2008

Bush: Top Economic Powers Will Cooperate on Economic Crisis
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http://enews.voanews.com/t?ctl=1EA9467:A6F02AD83191E16088C8AE16692C8D1A2E7CA1C1B166B639&
 
US president makes remarks at White House after meeting with heads of
international financial institutions who are in Washington DC for
gathering of G7 finance ministers 
President Bush makes a statement after the House passed the $700 billion
financial bailout bill at the White House in Washington, 03 Oct 2008U.S.
President George Bush has emerged from a White House meeting with
the world's top economic powers, saying they have agreed to work
together to restore stability and growth to the global economy. Mr.
Bush made the remarks Saturday after meeting with finance ministers who
are in Washington D.C. for a gathering of Group of Seven. Mr.
Bush said that in an effort to resolve the situation, the actions of
one country should not undermine or contradict the actions of another.
The president said financial officials have pledged to support key
financial institutions and prevent their failure. President
Bush said ministers will work quickly to protect bank deposits and
bring liquidity to financial institutions to unfreeze the credit
market. He also said they agreed to ensure taxpayers are protected. Mr.
Bush also tried to soothe fears about the economy during his weekly
radio address Saturday. On Sunday, European leaders are to gather in
Paris to draw up a joint plan to cope with the financial crisis. The
global economic crisis has sent stock indexes plunging around the
world. In the U.S., the Dow Jones had it worst week on record by again
closing sharply lower on Friday.


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