Arab Today, arab today finance chiefs vow to support banks
Last Updated : GMT 11:16:14
Arab Today, arab today
Arab Today, arab today

Finance chiefs vow to support banks

Arab Today, arab today

Arab Today, arab today Finance chiefs vow to support banks

Marseille - Arabstoday

Group of Seven finance chiefs vowed to support banks and buoy slowing econ-omic growth as Europe\'s debt crisis roiled financial markets and threatened a global recession. \"We will take all necessary actions to ensure the resilience of banking systems and financial markets,\" G7 finance ministers and central bankers said in a statement released during talks in Marseille, France on Friday. \"Concerns over the pace and future of the recovery underscore the need for a concerted effort at a global level in support of strong, sustainable and balanced growth.\" Renewed fears that European policymakers are failing to prevent a Greek default and contain their debt woes prompted investors to sell stocks and push the euro to a six-month low against the dollar on Friday. European bank and sovereign credit risk reached all-time highs as ten-year Treasury and German bund yields fell to record lows on demand for a haven. Germany moved toward insulating its banks against the fallout of a possible Greek default and Juergen Stark\'s resignation from the European Central Bank exposed the policy rifts aggravating the debt turmoil. Such shifts highlight the biggest risk to international expansion since the collapse of Lehman Brothers Holdings three years ago this month. The sense of disarray drew fire from G7 officials with US Treasury Secretary Timothy F. Geithner lobbying his European counterparts to get their act together. Canadian Finance Minister Jim Flaherty even suggested Greece may need to quit the euro. European authorities, \"need to do whatever they can do to calm these pressures,\" Geithner told Bloomberg Television. \"They have to demonstrate they have enough political will.\" Dogged by voter unrest and ideological splits, Europe\'s leaders have reignited investor unease less than two months since they detailed their latest remedy for a crisis nearing its second anniversary. Finland is demanding collateral from Greece in return for fresh aid and German lawmakers want veto power. Governments are also dithering over a revamp and management of their regional rescue fund and falling short of the closer budget ties investors say are needed to guarantee the euro\'s future. There are also questions over whether nations can cut deficits without derailing growth and creating even more debt. \"We need Europe to have its moment of truth, to recognise that the current course isn\'t sustainable,\" Mohammad Al Erian, chief executive officer of Pacific Investment Management, said in an interview.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today finance chiefs vow to support banks Arab Today, arab today finance chiefs vow to support banks

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday