12 October 2008

IMF Warns: Global Financial System at Brink of Meltdown

IMF sounds 'meltdown' warning

The warning came hours before European leaders began a meeting in the French capital to tackle the deepening financial crisis.

"Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown," Dominique Strauss-Kahn, the IMF chief, said on Sunday.

October 12, 2008

http://english.aljazeera.net/news/europe/2008/10/20081012161810992860.html