US President George W Bush has urged the world's wealthiest industrial nations to avoid any unilateral action in the current global economic crisis.
Speaking at the White House, he said countries must take co-ordinated action to tackle the "serious global crisis".
"We must ensure the actions of one country do not contradict or undermine the actions of another," he said.
He spoke after crisis talks with Group of Seven chiefs and the International Monetary Fund (IMF) in Washington.
"All of us recognise that this is a serious global Eight killed in US attack in Pakistan ...
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"We will stand together together and address this threat to our prosperity," he added.
The US president spoke after talks with Group of Seven (G7) finance ministers from Britain, Canada, France, Germany, Italy, Japan, as well as IMF chief Dominique Strauss-Kahn and World Bank President Robert Zoellick.
Amid widespread fears of a global recession, US Treasury Secretary Hank Paulson on Friday announced the US would invest directly in banks for the first time since the 1930s, following a similar UK move.
The G7 finance ministers had earlier promised to take decisive action and use all available tools to protect major banks and financial institutions from failure.
Announcing a five-point plan in Washington, they said they would free up the flow of credit, support efforts by banks to raise money, and revive the mortgage market.
Asian, European and US markets continued to tumble on Friday despite rate cuts and cash injections by central banks.
Leaders of the eurozone countries are scheduled to meet in Paris on Sunday.
(BBC)
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