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(visit the link for the full news article)
Group of Seven nations finance chiefs will hold talks on financial markets and Japan’s economy tomorrow, after the March 11 earthquake triggered a drop in global stocks and drove the nation’s currency to a post World War II high.
Originally posted by HunkaHunka
Well now. I suppose it it is time for immediate secret meetings to take place. So what are the possible out comes of this? What types of actions has the G7 taken in the past during other disasters involving western civilizations?
Loans? A push to bring monsanto into the picture?
What are your thoughts ATS?
www.bloomberg.com (visit the link for the full news article)
The Group of Seven rich nations on Friday agreed to join in rare concerted intervention to restrain a soaring yen and calm global markets after a wild week of panicky trading as Japan scrambled to prevent a meltdown at a nuclear power plant.
The U.S. dollar surged two full yen to as far as 81.70 yen, leaving behind a record low of 76.25 hit on Thursday as the Bank of Japan kicked off the joint action. Media reported it bought more than $25 billion.
Japan's Nikkei share index climbed 3 percent, recouping some of the week's stinging losses as Japan reeled from an earthquake, tsunami and the nuclear power plant crisis.