From The Sunday Times
April 13, 2008

More turmoil feared as G7 ducks credit crunch
David Smith, Economics Editor

FINANCIAL MARKETS face more pressure after this weekend’s Washington meeting of the Group of Seven finance ministers and central bankers failed to agree measures to tackle the global credit crunch.

The G7 gave a downbeat assessment of the world economy, but stopped short of declaring America was in recession.

“We remain positive about the long-term resilience of our economies, but near-term global economic prospects have weakened,â€