Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

A worker looks at graph showing the FTSE 100 index from mid July to August 5th Katie Collins/PA Wire
Eurozone

Italy and France call for emergency G7 debt crisis talks

Berlusconi and Sarkozy have agreed that the meeting should happen in the coming days.

ITALY AND FRANCE have called an emergency meeting of ministers from the G7 nations to discuss solutions to the Eurozone debt crisis.

Italian Prime Minister Silvio Berlusconi and French President Nicolas Sarkozy have said that finance ministers from the G7 nations will meet in the coming days.

Italy is set to implement a package of austerity measures in order to get the country’s budget into balance by 2013, according to Reuters.

The EU has said that it’s working “night and day” to make new rescue funding ready as lending costs rise and stocks plunge, according to the Sydney Morning Herald.

Global stock markets rallied earlier today after a disastrous start this morning.

Reuters reports that US stock markets ended their worst week since November 2008. Today was their busiest day in more than a year with almost 16 billion shares traded. Some better-than-expected jobs news from the United States helped to reverse some earlier losses on the stock markets.

The Dow closed up 61 points, or 0.5 percent, at 11,445. The S&P 500 closed down a point, or 0.1 percent, at 1,199. The Nasdaq composite index closed down 24, or 0.9 percent, at 2,532.

Explainer: Why are the markets in chaos, and should you be worried?

US jobs news – and ECb intervention – puts brakes on stock market crash>

Your Voice
Readers Comments
16
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.