Posted on 11/10/08
Co-operation among G7 unprecedented
WASHINGTON -- The world's seven big capitalist countries are turning their backs on orthodoxy in order to end the worst financial crisis since the Great Depression.In an extraordinary statement last night, finance ministers and central bank governors from the Group of Seven major industrial nations stated in black and white that they will choose winners and losers if that's what it takes to restore calm to global markets. They also said they are willing to buy stakes in banks if there are no willing private investors at whatever cost necessary.
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