DW-World.de
Deutsche Welle

US President George W. Bush has expressed confidence that his administration can solve the crisis on the financial markets, which has led to a week of sell-offs at stock markets all over the world. Speaking at the White House Rose Garden, Bush said the US Treasury Department would work quickly to implement the $700 billion financial sector rescue plan that he signed into law one week ago. He also said that the US Securities and Exchange Commission was stepping up its efforts to fight manipulation in the markets. He was speaking ahead of a meeting of finance ministers and central bank chiefs from the Group of 7 industrialised nations in Washington. They are expected to use the annual meeting of the World Bank and the International Monetary Fund to discuss what action they can take to restore confidence to the markets.