According to Bloomberg:
“Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they “rewrite the rules of international finance.”
“The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,” Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis “can’t just be for one country, or even just for Europe, but global.”
Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis “in coming days,” he said.
With a huge meeting of global financial leaders happening, what’s to come? Will the equities markets in the major economies be shut down until a global response is created or a brand new system of international finance comes into play?
Maybe its a good idea?
Related posts:
- BREAKING: IndyMac Bank is Shut Down and Taken Over by Feds
- BREAKING: Fed Rescues AIG with $85 Billion Loan (bailout) for 80% Ownership Stake
- Asian Stock Markets Collapse for Second Day. Interest Rates Slashed
- Global Economy Melts & Takes Focus Away From Foreclosure Debacle
- International Real Estate and FSBOs
Article Author: Joshua DorkinJoshua has written 568 articles for us.
Visit Joshua's Website: http://www.biggerpockets.com/
Joshua Dorkin (@jrdorkin, Google+) is the founder and CEO of BiggerPockets.Mr. Dorkin's vision for BiggerPockets has helped to propel it into becoming one of the top real estate destinations online. His vision for the site and its future has brought national press attention to both Mr. Dorkin and to BiggerPockets.
Joshua Dorkin
{ 1 comment… read it below or add one }
ya this time is very crucial to financial market. Big trouble arose to the market. it believed that it is a very big crises after 1921 , year i havn’t remember clearly.