Finance ministers and central bankers of the G20 countries were willing to adopt a series of measures to maintain stability of global financial markets, reported the American Financial MarketWatch on Monday.
European leaders have pledged to cooperate in the unfavorable environment that drives the stock markets after lowering the credit rating of the United States by the rating agency Standard and Poor’s (S & P).
The agency lowered the rating of the United States by one notch to AA +. S & P said it had taken this decision because the plan to reduce the budget deficit recently passed by Congress was not enough to stabilize the country’s debt.
Previously, representatives of the G7 countries have announced their intention to help restore stability in financial markets, highlighting the negative impact of market volatility on the global economy. According to the Japanese Minister of Finance, Yoshihiko Noda, the G7 will continue discussions on stabilizing financial markets.