European Central Bank and G7 seek to prevent collapse of investor confidence; Markets plunge in Asia
Aug 8th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
On Sunday, both the European Central Bank and G7 (Group of Seven - - US, Japan, Germany, France, UK, Canada, Italy) nations sought to prevent a collapse in investor confidence after the US federal debt was downgraded on Friday and yields on Italian and Spanish debt jumped last week. On Monday, shares plunged across Asia.