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Sunday, August 07, 2011

G20 Hold Emergency Call On U.S.

Officials from Group of 20 major economies, like French President Nicolas Sarkozy and U.K. PM David Cameron, discuss concerns about U.S. credit downgrade and and European debt crisis as Mideast markets tumble.

Financial officials from the Group of 20 major economies reportedly held an emergency conference call Sunday to the discuss the debt crises in the U.S. and Europe following several days of market panic and a downgrade of the U.S. credit rating.

Reuters reported that Japan and South Korea said that they were still confident in U.S. treasuries.

"I expressed our country's position on the (G20 conference) call that there will be no sudden change in our reserve management policy," South Korean Deputy Finance Minister Choi Jong-ku told Reuters.

1 comment:

Anonymous said...

Any predictions on the market thsi week?
I will predict the bottom at around 7000 for the DOW.
Mmmmm maybe even a little lower.