World Finance

After a dramatic loss in the confidence of financial markets around the world, global finance chiefs have gathered in Washington D.C. to discuss crisis solutions and possibilities. The world's major industrial powers are making all of their assets more liquid, in hopes of unclogging the credit market. There have also been coordinated cuts in interest rates worldwide. Attending the meeting are ministers and central bankers from the United States, Germany, Japan, Britain, France, Italy, and Canada. President Bush spoke on the issue and blamed decreasing confidence and anxiety for the financial crisis. The British Chancellor of the Exchequer was quoted "I think the key is to ensure that governments all over the world act together, firstly to stabilize the banking system." Germany plans on coming up with a set of global rules to help stabilize the world. The global financial meltdown has become an issue that cannot be solved by individual countries. Globalization has taken hold of the world's economies. The macroeconomic model becomes more important than ever because economists around the world need to look at the financial market as a whole. Will a group of the most powerful financial officers in the world be able to come up with a solution to this crisis or will the downward spiral continue?


http://www.breitbart.com/article.php?id=081010152046.2hdfa805&show_article=1&lst=1