The Group of Seven finance ministers issued a communique assuring investors that the G-7 is united in effort and will “take all necessary measures to support financial stability and growth.” The wider group of G-20 which includes the emerging economies produced a similar statement.
“Actions speak louder than words,” said Richard Barwell, an economist at Royal Bank of Scotland Group Plc in London. “In the short run, it might be better they say something rather than nothing, but we’re probably at the stage now more where people want to see decisive action.”
Source: Bloomberg