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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (33343)	10/4/1998 11:49:00 AM
From: Joseph G.	Read Replies (1) \| Respond to of 132070

More from Reuters: <<The G7 talks ended with a communique that said little more than a joint declaration issued two weeks ago in an attempt to stem huge investor withdrawals from emerging market economies and stock market slides in G7 countries. The communique on Saturday, much like the one on Sept. 14, said G7 countries realized their allegiance was no longer solely to the fight against the age-old enemy of inflation, and they would do what was needed to protect economic growth. The verdict on their latest deliberations will come when financial markets open on Monday, but signs are somewhat ominous, given that their previous declaration failed to halt the market turmoil, even when it was followed with interest rate cuts by the U.S. and Canadian central banks. Strauss-Kahn defended the G7's latest stand at a Saturday night news conference. ''The G7 is playing the role of the pilot that's needed in the plane,'' he said. But he also gave a sober appraisal of what the G7 could actually do in the near term to restore confidence.>>