EurActiv.com Correspondent's Choice

The leaders of the world’s twenty wealthiest nations have unveiled a five-point action plan to reform global financial markets after the credit crunch started to hit the real economy, plunging most of Europe and the United States into recession.

Meeting at a summit in Washington over the weekend (15 November), world leaders agreed that additional measures were needed to stabilise financial markets and support economic growth as the economic slowdown starts hitting both developed and developing nations.

“We agreed that a broader policy response is needed, based on closer macroeconomic cooperation, to restore growth,” the leaders said in a statementPdf external .

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