Economic powers pledge to stem financial crisis

WASHINGTON (AP) -- The world's major economic powers are vowing to help the U.S. resolve the growing credit crisis.

Finance ministers from other Group of Seven countries have welcomed the steps being taken in Washington to stem the crisis, and pledge to do all they can to fix the problems that threaten global economic health and stability.

The Bush administration and Congress are working a plan that could mark one of the biggest bailouts in U.S. history.

The G-7 finance ministers today endorsed it and said they're "ready to take whatever actions may be necessary, individually and collectively." They offered no specifics, but sought to send a reassuring message that they're on top of the situation.

Besides the United States, the G-7 includes Japan, Germany, France, Britain, Italy and Canada.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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