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| Version 1 | Version 2 |
|---|---|
| Bush urges joint crisis response | Bush urges joint crisis response |
| (10 minutes later) | |
| US President George W Bush has called for co-ordinated action by leading industrialised countries to tackle the worldwide credit crunch. | US President George W Bush has called for co-ordinated action by leading industrialised countries to tackle the worldwide credit crunch. |
| A common response must be "well thought-out", Mr Bush said. | A common response must be "well thought-out", Mr Bush said. |
| He was speaking as world markets remained volatile amid ongoing uncertainty, despite last week's $700bn (£380bn) US rescue package. | He was speaking as world markets remained volatile amid ongoing uncertainty, despite last week's $700bn (£380bn) US rescue package. |
| The International Monetary Fund has also called for joint action estimating financial losses at $1.4 trillion. | |
| The US president was speaking at an office supply company outside Washington, following talks earlier with European leaders earlier on Tuesday. | |
| Mr Bush said finance ministers from G7 nations would meet in Washington at the weekend to discuss the crisis. | |
| He said the financial meltdown had created hardship for many Americans, but pledged : "We have been through tough times before and we're going to come through this again." | |
| "We can do it" should be the motto for the US right now, he added. | |
| He said the rescue plan would free up credit for businesses and families but that it would take some time to work. | |
| "Thawing the freeze in the financial system is not going to happen overnight," he warned. | |
| London's FTSE 100 index closed up slightly despite heavy losses by banking shares. | London's FTSE 100 index closed up slightly despite heavy losses by banking shares. |
| France's Cac 40 index also ended higher. In morning trading on Wall Street, the Dow Jones was down 1%. | France's Cac 40 index also ended higher. In morning trading on Wall Street, the Dow Jones was down 1%. |