The Hellenic Radio (ERA): News in English, 08-10-11

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Coordinated Moves

11 Ïêô 2008 10:09:00

By Betty Savourdou

Sources: NET 105.8, ÁNA-ÌPA

G7, the Group of Seven finance chiefs issued a five-point action plan Saturday morning to combat the world financial crisis by granting protection to big banks. G7 met in Washington with the participation of the International Monetary Fund and the World Bank. G7 committed itself to finance directly big banks, promising help from the public or private sector when necessary, while bank deposits will guarantee the national programmes of G7. Meanwhile, Eurozone member-states are holding an extraordinary Summit Meeting in Paris Sunday to adopt a joint European action to combat the financial crisis. Attending the meeting will be Prime Minister Kostas Karamanlis.

Translated by John Crystallidis

Read the story on other sources:

BBC: G7 nations pledge to fight crisis

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