World leaders look for joint action

Top finance officials from the 20 major economies pledged over the weekend to work together to find solutions to the worsening financial turmoil, which they believe is the worst since the Great Depression.

European leaders were also meeting last night in Paris to search for a common response to the spreading crisis, a job made more difficult by the different situations and systems across the EU bloc.

Among the issues on the table is the possibility of nations guaranteeing loans between banks to try and get the credit markets working again.