3/2/2009

Prominent economists warned that the Group of 20 nations need to develop common principles to deal with banks' troubled assets to curb the accelerating economic downturn. In a report, the economists said "neither monetary nor fiscal policies will work unless and until the blockages in the supply of credit are resolved." Senior officials from the G-20 are meeting this week in London to work toward text regarding an overhaul of financial regulation and a way to bolster economic growth.

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