World leaders, warning of a global economic downturn, pledged Saturday to work together to find solutions to the worldwide financial crisis.
At a gathering in Washington, President Bush and finance officials from the Group of Seven, Group of 20 and the International Monetary Fund vowed to be vigilant in helping economies around the world on the road to recovery, though they did not announce any new actions to stem the panic.
Sunday, the leaders of the European Union member nations agreed on a plan to ease the global financial crisis by shoring up troubled banks.
French President Nicolas Sarkozy said the plan would refinance banks, guarantee interbank lending and ensure that troubled banks do not fail.
Meanwhile, talks of a merger between struggling American car manufacturers GM and Chrysler heated up, and Wells Fargo got government approval for its $12 billion purchase of Wachovia after Citigroup dropped its bid.NEXT: Monday, Oct. 13 - Markets roar