G-20 economic Summit beginsNovember 15th, 2008 - 12:56 pm ICT by ANI
By Ravinder Singh Robin
Washington, Nov 15 (ANI): The emergency financial G-20 summit hosted by US President George W Bush will be convened in Washington today to discuss and find solutions stem to the current global economic crisis
Prime Minister Dr. Manmohan Singh arrived in Washington last night to attend the event.
Over the weekend, G-20 leaders will try to grapple with the global economic crisis that has plunged most of Europe into its first recession since the Euro currency was formed.
The crisis has weakened the world’’s major economies and official data shows the 15-nation Euro zone economy having shrunk by 0.2 percent for the second quarter in a row.
With Europe, parts of Asia and North America suffering leaders of major economies, who between them account for over 80 percent of world trade, will try to find ways to ensure the crisis, started by a U.S. housing market crash, is not repeated.
Dr. Singh attended a dinner hosted by President Bush last night.
Earlier, in a statement on his way to Washington, Dr. Singh said G-20 summit is an opportunity to exchange views with other leaders on the reasons behind the recent financial crisis gripping the world and find ways to arrest this negative trend.
“The summit has an important role to play in considering corrective measures to prevent any future recurrence,” he added. (ANI)
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