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Silvio Berlusconi Announces G7 To Meet 'within Days'

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Italian Premier Silvio Berlusconi has announced that G7 finance ministers will meet "within days" of the exploding financial crisis, saying he had conferred with world leaders.

Berlusconi said he was expecting a phone call later today from President Barack Obama about the global economic woes.

Italy also pledged to work for a constitutional amendment requiring the government to balance its budget, as Rome feverishly tries to assure domestic and foreign investors its finances are sound and calm a nervous market.

Finance Minister Giulio Tremonti also told a hastily convened news conference Friday night that Italy, aims to balance its budget in 2013, a year before previously scheduled.

Italy's borrowing costs rose above Spain's for the first time in more than a year, pushing European leaders to interrupt their vacations and look for a response to deepening fears about the health of the eurozone's No. 3 economy.

Nothing like a bit of panic.

Clearly this meeting will settle the nerves of the bond vigilantes and restore order and confidence that debt is indeed wealth.

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Hague holds crisis meeting over economy as £150bn is wiped off value of the FTSE in just a week

Meeting described as a 'stock take' by Downing Street

FTSE 100 index of leading shares closes down 2.71%

Initial positive response to news that U.S. employment rose by 117,000 is quickly countered by more losses

Cameron, Osborne and Clegg remain on holiday despite one of FTSE's worst-ever weeks

Asian markets in turmoil in response to global crisis

Former EU boss blames weak leadership for crisis

RBS announces pre-tax loss of £794m

Don't panic! Don't panic! It seems like the politicians want to give the impression they are in control. It's time to panic. :lol:


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Thanks interestrateripoff a new kind of post from you , should you not quote Zerohedge at some point , Have you ever considered an individual thought ? Just asking.

  • Posts: 26,540 (nearly 10,000 per annum)

He or it is 'manning' it's post

(could be an auto-spamming Govt propaganda software prog)


Edited by erranta
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Nothing like a bit of panic.

Clearly this meeting will settle the nerves of the bond vigilantes and restore order and confidence that debt is indeed wealth.

Has Sir Richard phoned Downing Street yet demanding they do something?

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Finance ministers and central bankers of the Group of Seven major industrialised nations will confer by telephone on turmoil in the financial markets later on Saturday or on Sunday, a senior European diplomatic source said.

Yes it's an emergency but they may talk today or they may talk tomorrow...

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