The world financial system is teetering on the “brink of systemic meltdown”, the head of the International Monetary Fund (IMF) has warned in Washington.
The IMF chief’s strong words reflect a belief that the global financial crisis can be contained, says the BBC’s economics correspondent Andrew Walker in Washington.
Mr Strauss-Kahn was joined at the White House by finance ministers from the US, Canada, France, Germany, Britain, Italy and Japan, as well as World Bank President Robert Zoellick.
Following talks with the economic leaders, Mr Bush also pledged co-ordinated action, saying it was serious global crisis which demanded a serious global response.
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G7 has outlived its purpose.
Time to ask help from Organized crime.
Who the hell funded those presidential campaigns??