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IMF: Global Financial System On The "Brink Of Systematic Meltdown"
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Financial Crisis, Global Financial Crisis, Imf, IMF Meeting, International Monetary Fund,
Business News
The IMF warned on Saturday that the global financial system was on the brink of meltdown, while France and Germany pushed ahead with a pan-European crisis response to try to prevent the worst global downturn in decades.
At a joint news conference, French President Nicolas Sarkozy and German Chancellor Angela Merkel said they had "prepared a certain number of decisions" to present at a Sunday meeting of European leaders as they work feverishly to restore blocked credit markets to working order.
Reuters | Lesley Wroughton and Francois Murphy | October 11, 2008 03:01 PM