Emerging markets like China and Brazil, as well as US, are urging European ministers to address its sovereign debt woes. But emerging markets, US lack consensus on solution.
Stock prices in Europe fall sharply after G7 finance ministers fail to come up with new measures. Bank stock prices, in particular, tumble over concerns of spreading euro debt crisis.
Today is the first day that most stock exchanges have been open since ratings agency Standard & Poor's announced its US credit downgrade from a AAA rating to AA+. Here’s how world markets have responded so far:
A better-than-expected US jobs report helped abate selling pressures on Wall Street. But Europe's debt problems are pressuring EU officials to act.
China has surpassed the US as the world's largest creditor. Beijing must now take on the accompanying leadership role. Instead of a 'Marshall Plan,' why not a 'Hu Jintao plan' that recycles some of China's surplus to benefit the whole global system?
Christine Lagarde is the right choice to replace Dominique Strauss-Kahn as head of the IMF, and not just because of her experience. Women are more effective communicators and aren't libido-led leaders, like Anthony Weiner.
Sarkozy, Obama, and the other leaders at the G8 should be evaluating the policies that have brought them to the brink of financial ruin. Unfortunately, their attention will be elsewhere: on Internet regulation, for one thing.
G-20, a group of financial leaders from 20 of the world's biggest economies, meets in Washington to discuss challenges facing the global economy. The G-20 talks are focusing on how to prevent imbalances in trade and government debt.