Prime Minister Gordon Brown finally admitted that Britain is likely to suffer a recession - hours after a similar warning from the Bank of England sent the value of the pound plunging to a five-year low.
Brazil has sent a strong message to those (restless) neighbours that could threaten the country, according to reports in the Sao Paulo press.
Former United States Federal Reserve chairman Alan Greenspan confessed on Thursday that he had made mistakes in championing the light-touch US financial regulatory system, which led to what he admitted had become a once-in-a-century credit tsunami.
Brazil's central bank said Wednesday it would pump the equivalent of 50 billion US dollars into currency markets to stem a two-month tumble in the Real that is threatening companies and stoked inflation.
Argentine President Cristina Fernandez proposed Tuesday a government takeover of nearly 30 billion US dollars in private pension funds, saying pensioners must be protected from the global financial crisis.
Unites States President Bush invited leaders of the Group of 20 participants to a summit in Washington on November 15 on the global economic crisis announced the White House on Wednesday.
Brazil was forced to appeal to 22.9 billion US dollars in the past month, including sales of foreign reserves, derivatives and loans to prop the weakened Real punished by investors fleeing from emerging markets to more secure assets.
The global financial crisis could increase world unemployment by an estimated 20 million women and men, the Director-General of the International Labour Office (ILO) said on Monday.
The global economic slowdown is starting to impact on China, the world's biggest industrial production centre. As many as half of all toy manufacturers in the Pearl River Delta could go out of business within the next two years an industry expert said on Monday following the closure of the Smart Union toy factory.
United States Federal Reserve chief Ben Bernanke said on Monday more government spending may be needed to combat economic weakness. A fresh round of stimulus would be a good idea, he told the US House of Representatives budget committee.