WASHINGTON (AP) — The world’s major economic powers are pledging to launch a bold effort to deal with a chronic slowdown in growth and a European debt crisis threatening to push the global economy into another recession. But it is unclear whether their strong words will be backed by strong actions.
The statement by the Group of 20 major economies pledges that the countries, which represent 85 percent of the global economy, will do what’s necessary to restore financial stability and calm financial markets.
The finance officials are seeking to demonstrate strong resolve in the hope that it will calm financial market jitters. The United States is represented in the discussions by Treasury Secretary Timothy Geithner (GYT’-nur) and Federal Reserve Chairman Ben Bernanke (bur-NANG’-kee).
