Mar­ket ma­nia

Finweek English Edition - - Letters -

THE WORLD’S stock ex­changes showed a moderate re­cov­ery (tem­po­rar­ily), thanks to sev­eral gov­ern­ments’ gen­er­ous lifeboats to their fi­nan­cial sec­tors. For ex­am­ple, the United States will use US$250bn of the $700bn bail-out to its fi­nan­cial sec­tor for debt and buy­ing shares in some of the coun­try’s bank groups. SA’s Fi­nance Min­is­ter Trevor Manuel urged every­one to keep calm. THE WEEK­ENDER said who­ever the new leaders af­ter the elec­tion, in­ter­na­tional eco­nomic re­al­i­ties would al­low them lit­tle room to ma­noeu­vre. Beeld said the G20 res­cue plan wouldn’t solve the un­der­ly­ing prob­lems but was im­por­tant in pre­vent­ing the world’s fi­nan­cial sys­tem from col­laps­ing. The Daily Dis­patch said Manuel’s con­ser­vatism since 1994 is now yield­ing fruit for SA.

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