U.S. President George Bush has emerged from a White House meeting with
the world's top economic powers, saying they have agreed to work
together to restore stability and growth to the global economy.
Mr. Bush made the remarks on Saturday after meeting with finance ministers who are in Washington D.C. for a gathering of Group of Seven.
Mr. Bush said that in an effort to resolve the situation, the actions
of one country should not undermine or contradict the actions of
another.
The president said financial officials have pledged to support key financial institutions and prevent their failure.
President Bush said ministers will work quickly to protect bank
deposits and bring liquidity to financial institutions to unfreeze the
credit market. He also said they agreed to ensure taxpayers are
protected.
Mr. Bush also tried to soothe fears about the economy during his weekly radio address on Saturday.
On Sunday, European leaders are to gather in Paris to draw up a joint plan to cope with the financial crisis.
The global economic crisis has sent stock indexes plunging around the
world. In the U.S., the Dow Jones had it worst week on record by again
closing sharply lower on Friday.