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Global response: G7 promises 'urgent' action on financial crisis

	October 13, 2008

The world's seven leading economies have agreed to do everything in their power to tackle a financial crisis that threatens to plunge the world into recession, but unveiled no new joint measures after their meeting. The Group of Seven (G7) finance ministers and central bank heads said after their meeting last Friday last they would use "all available tools" to stabilise the financial system and unblock credit markets that have come to a virtual halt in the United States and Europe. The meeting ...