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USA UK and Malta News
15/10/2008 - 20:13

UK Today Editoweb 15 october 2008

Recession fears drive stocks sharply lower - World recession fears mount after finance crisis - G8 Backs Brown's Bank Crisis Plan.



Recession fears drive stocks sharply lower

Mounting fears that global financial turmoil will now spark a recession in Europe and the United States rattled investors and sent share prices plunging on Wednesday.

World recession fears mount after finance crisis

Fears grew Wednesday that the financial crisis will mutate into a worldwide recession with leaders calling for new global action to counter the economic slowdown.

G8 Backs Brown's Bank Crisis Plan

The G8 has backed Gordon Brown's call for an international summit to discuss reform of the failing global financial system.

ECB unveils major measures to boost market liquidity

The European Central Bank (ECB) moved Wednesday to make it easier and cheaper for eurozone banks to borrow dollars and Swiss francs, announcing procedural changes that one analyst called "huge.

Bernanke sees slow US recovery

Federal Reserve chairman Ben Bernanke said Wednesday that a recovery from the financial crisis "will not happen right away" but that the US economy will eventually emerge "with renewed vigor."

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