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Market News – G7 Officials Will Discuss World Economic Turmoil

Based on the events that have transpired in the past week, G7 officials have decided it is necessary to have a telephone conference on either Saturday or Sunday to try and find some solutions and move forward.

It seems as though everyone now sees that it is essential for some form of international cooperation to take place – each country can’t be working alone on a problem that knows no borders. What happens in one country has a huge effect in another, so isolated actions can actually do more damage than good.

There is a G7 meeting scheduled to take place in September in France, but there are rumors that the meeting might be pushed ahead to try and find solutions sooner than later.

 

Italy Speeds Up Austerity Measures In Exchange For ECB Help

In an effort to help stabilize their economy and offer support to the EU as a whole, Italy has pledged to speed up its implementation of economic reform in exchange for help from the ECB.

Silvio Berlusconi said that instead of waiting until 2014, Italy will have a balanced budget and rush through welfare and market labor reforms in 2013.

They had originally planned on having everything done for 2014, but it seems that as of right now, time is of the essence and they can’t afford to wait any longer.

In exchange for this expedient process, the ECB will start buying Italian bonds to help relieve some of the pressure they have come under. Will it work? Who knows…

 

Is The World Economy Going To Take A Turn For The Worse?

If the analysts predictions are right, things are going to get worse before they get better. When you consider all of the events that are transpiring and the lack of improvement the initiatives by governments all around the world are demonstrating, there really is no reason to be optimistic.

When the worlds most stable economies are getting downgraded and massive action plans are generating very little positive results, we really have to wonder what has to be done for something good to happen. It’s not like we can just throw money at this situation – we have done that and nothing good has happened.

In the end, we will have to continue trying to find ways to persevere and keep on working – what we are doing isn’t working, but doing nothing will be just as bad…

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