United global response needed to financial crisis
Posted, September 18, 2008 @ 15:00
Major players must unite resources to build financial firewall
Brussels, 18th September 2008 -- The economic powers of the world must visibly come together and unite their resources to build a firewall against the spreading financial crisis, John Purvis, Conservative MEP and Vice-President of the European Parliament's Economic and Financial Affairs committee, said today.
Mr Purvis has suggested the economic powers in Europe, the US, Japan and international financial institutions hold a summit which underlines to financial markets that resources will be pooled to ensure the contagion is not allowed to spread.
Mr Purvis, who previously ran an international financial consultancy, said:
"The global economic powers must unite to visibly send a clear message of confidence to financial markets. This is a global problem, which cannot be solved with individual national solutions.
"The world must use all its resources to create a firewall against the continued spread of this disease in our financial markets, and end this downward spiral."