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Gideon Gono

Big Economies 'stabilising' - G8

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http://news.bbc.co.uk/2/hi/business/8098886.stm

The world's largest economies are beginning to stabilise but still face major risks amid an ongoing global recession, G8 finance ministers say.

At a meeting in Italy of G8 nations, the ministers said stock markets were rising, interest rates more stable, and consumer confidence was returning.

However, US Treasury chief Tim Geithner led warnings that it was too early to wind down economic stimulus packages.

He said they should remain in place until a global recovery was under way.

At the meeting in Lecce, which aimed to lay the groundwork for a full G8 heads of government conference next month in the earthquake-hit town of L'Aquila, the finance ministers conceded that the global situation "remains uncertain".

"Significant risks remain to economic and financial stability," the ministers said in a statement released at the end of their meeting.

It highlighted the possibility that unemployment could continue to rise even after output growth resumes.

Joint problems

But they agreed a joint statement which offered signs of hope after nine months of gloomy economic news.

"We have taken forceful and co-ordinated action to stabilise the financial sector and provide stimulus to restore economic growth and there are signs of stabilisation in our economies," the statement said.

Mr Geithner said the "early signs" were encouraging, but injected a note of caution.

"The global economy is still operating well below potential and we still face acute challenges," he said.

"I don't think we're at the point yet where we can say we have a recovery in place," Mr Geithner warned, saying it was "too early" to move away from the interventionist economic policies put in place around the world since the banking crisis of September 2008.

UK Chancellor Alastair Darling said Britain's economic prospects remained linked to those of other G8 nations.

"A lot will depend on other countries making progress: on cleaning up their bank balance sheets; volatility in commodity prices, oil for example. So I think there are reasons to be cautious," he told Reuters news agency.

The meeting comes two months after a full G8 heads of government meeting in London agreed to inject billions of dollars into the global economy.

While the finance ministers agreed to begin considering exit strategies from those extraordinary measures, Mr Darling said they were unlikely to come into play any time soon.

"One thing we are absolutely clear about is we are not there yet. No-one's talking about exiting now, this is some way down the track. We've still got to work this through," he said.

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At a meeting in Italy of G8 nations, the ministers said stock markets were rising, interest rates more stable, and consumer confidence was returning.

They are telling the truth of course but :lol:

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I dont see central bank base rates moving around much - do you?

No, I don't.

Only because they are nailed to the floor!

Could they at this stage move them upward if they wanted to?

Hungary and Iceland excluded I guess.

Edited by Cogs

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No, I don't.

Only because they are nailed to the floor!

Could they at this stage move them upward if they wanted to?

Hungary and Iceland excluded I guess.

Of course they will rise. As you say they cant go down. BUT I think it wont be for 12 months yet.

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Of course they will rise. As you say they cant go down. BUT I think it wont be for 12 months yet.

shame that mortgage rates already have, and are still.

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However, US Treasury chief Tim Geithner led warnings that it was too early to wind down economic stimulus packages.

He said they should remain in place until a global recovery was under way.

Ponzi Brown won't be happy reading that bit, Geithner seems a bit off message with that.

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It would be nice if they would run the monetary system to encourage stability, instead of encouraging asset booms and busts constantly.

But booms are what makes the govt popular and the people feel rich.

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But booms are what makes the govt popular and the people feel rich.

I don't think so. Booms are what rich powerful people want. In a stable economy, you have to work to make money. In boom and bust, all you need is a bit of insider info.

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I don't think so. Booms are what rich powerful people want. In a stable economy, you have to work to make money. In boom and bust, all you need is a bit of insider info.

What like buying a house or buying a house and renting it out? Can't fail to make a profit.

It was the insider info that everyone knew. Couldn't possible fail.

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What like buying a house or buying a house and renting it out? Can't fail to make a profit.

It was the insider info that everyone knew. Couldn't possible fail.

Are you saying that nobody got out at the top?

If I can sell my house in August 2007 because I see a big crash coming, then someone else with far higher stakes certainly did.

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Are you saying that nobody got out at the top?

If I can sell my house in August 2007 because I see a big crash coming, then someone else with far higher stakes certainly did.

there were around 100,000 sales in August 2007, just from memory...probably more.

many were BTL, many were up movers, few were market leavers, few were FTB.

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Osborne,

Can you try to draw your sources of information from a wider source than the BBC please. Or are you sat in one of there offices?

I can see why we have lost regulars on here as there is all this Ramping rubbish being pushed on here.

Yawn.

This bear is going back to sleep for month.

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Osborne,

Can you try to draw your sources of information from a wider source than the BBC please. Or are you sat in one of there offices?

I can see why we have lost regulars on here as there is all this Ramping rubbish being pushed on here.

Yawn.

This bear is going back to sleep for month.

Yes, it's got completely out of hand :(.

As a matter of interest, the site's own published statistics show that the highest number of users online was achieved over a year ago.

Most users ever online was 2,028 on Jun 10 2008, 12:28 PM

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And remember that the powers that be are capable of many things to help them manipulate opinion.

Remember the farmer that led the fuel protests?? I believe he got a big cash payout (from somewhere) to get him to go back to the land and be quiet.

We really do not know just what the VI's are upto. We certainly know they are trying to let the air out of the house price balloon slowly. They are spending vast sums to do this, so a few dozen bums on seats trolling forums like this could be value for money if some take the biscuit and go ut to buy. Its a shame we cant see if there IP address is in the BBC or whitehall! lol

The amount of ramping is like walking through syrup on here. Just slows you down from reading usefull posts that have some evidence to support (bear or bull). If it drives good posters away they have had some effect. I think some old regulars just had enough of reading the same from the bulls day in day out, i mean if we wanted that we could go to BBC.CO.UK. Lets face it most of what this site is about has played out, so why stay and argue pointlessly?

The Goverment wants your saving and is doing what it can to trick you out of it you. Labour knows to deleverage that they need to spread the losses around. They have to get the housing market moving again to let it unwind and let the new buyers loose there lovely deposits. Like someone said 20% reduction seems to be as much as people can face. So they just need a fresh batch of buyers for another 20% off.

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Of course they will rise. As you say they cant go down. BUT I think it wont be for 12 months yet.

Thank christ for that, so long as I don't have to worry about it today, it's not a problem

Bit like having a credit card really, to hell with tomorrow

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Are you saying that nobody got out at the top?

If I can sell my house in August 2007 because I see a big crash coming, then someone else with far higher stakes certainly did.

Of course people got out at the top.

But I suspect a lot more idiots joined the band wagon at the top as it couldn't possible fail.

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