Business | Markets
White House dismisses idea of market suspension
The White House on Friday dismissed suggestions that US markets would be suspended so international financial rules could be rewritten amid the turmoil that has gripped markets for weeks.
- Agencies
- Published: 20:26 October 10, 2008
-
Market mayhem will hit banks hard
Market mayhem will hit banks hard
-
Panic causes Asian stocks to plunge
Asian stocks plunge as credit crisis panic sets in
-
Mohammad reassures investors
Mohammad reassures investors
-
G7 faces heat as rate cuts get cool response
G7 faces heat as rate cuts get cool response
-
Arab economies ill-prepared for global shocks
Arab economies ill-prepared for global shocks
-
Consumers panic over Wall Street debacle
Consumers panic over Wall Street debacle
-
Stock rally 'unlikely for three months'
Stock rally 'unlikely for three months'
Washington, Naples: The White House on Friday dismissed suggestions that US markets would be suspended so international financial rules could be rewritten amid the turmoil that has gripped markets for weeks.
"There are absolutely no plans or discussions to interfere with the functioning of markets in the United States," White House spokesman Tony Fratto said in response to a question about the idea raised by Italian Prime Minister Silvio Berlusconi.
The Italian leader, who is set to meet US President George W. Bush on Monday, later played down the idea.
In Naples, Berlusconi had said there is talk of suspending markets for a temporary period while the global financial crisis is sorted out, but there is nothing concrete in this idea yet.
Asked what European Union leaders might discuss if they meet in Paris this Sunday, he told a news conference: "There is talk of suspending markets for the time needed to rewrite (international finance) rules."
But he told reporters after the news conference: "Someone brought up this hypothesis but there is nothing concrete."
Share this article
Related Articles
More from Markets
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months
