$1,000,000,000 (aka THE DADDY OF 000 , 000 ALL BAIL-OUTS); OBAMA DRAMA Barack and world leaders' package to 'end recession by next year'.Byline: BOB ROBERTS IT was the day the world united to tackle the global economic crisis head-on with an incredible trillion dollar bail-out package. World leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. said the massive injection of cash - worth EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 765,700,000,000 - will push the global economy out of recession by next year and would mean more trade, more jobs and more prosperity across the planet. A large chunk of the money will help prop up economies in danger of collapse, give nations more credit so they can carry on selling and buying, restore lending and allow more local currency to be printed. British Prime Minister Gordon Brown told delegates at the historic G20 meeting in East London East London, city (1991 pop. 240,474), Eastern Cape, SE South Africa, on the Indian Ocean. The city grew around a British military post founded in 1847. Its harbor was developed from 1886, and today it is a leading South African port. : "This is the day that the world came together to fight back against the global recession, not with words, but with a plan for global recovery and with a clear timetable for its delivery." Asked if it was the end of the recession, he added: "There is a determination to do whatever is necessary. "By injecting more resources into the world economy we will create more jobs, we will ensure businesses can invest more and we will be able to help homeowners worried about their mortgages. "I believe as a result of that the recovery will advance faster." President Barack Obama praised the world's leaders and said everyone was pulling in the same direction. He added: "If I had imagined 10 years, 20 years or 30 years ago that you would have the leaders of Germany, France, China, Russia, Brazil, South Africa and a President of the US named Obama - former adversaries, some former mortal enemies - negotiating this swiftly to fix the global economy, you would have said that was crazy, and yet it happened. That is a testimony to the great work that Gordon Brown did." The President said the summit was "a turning point in our pursuit of global economic recovery". He added: "We owe it to all of our citizens to act and act with a sense of urgency. Today, world leaders have responded with a unprecedented set of comprehensive and co-ordinated actions." He added after the event: "We did OK. I'm proud of what we have WHERE IT GOES TO FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. 4,020 4,040 4,060 4,080 4,1004,120 done." French President Nicolas Sarkozy said the conclusions of the summit were "more than we could have hoped for". German Chancellor Angela Merkel insisted the plan would give the world a "clearer financial market architecture". The deal, hammered out amid the derelict buildings and old dockyards of the East End, also agreed to strengthen financial regulation over banks and credit rating agencies Credit Rating Agencies Firms that compile information on and issue public credit ratings for a large number of companies. , including "tough new principles" on bankers' pay. It also urged action to be taken against tax havens and pledged to put an extra $50billion dollars into helping poor countries. There were growing fears the package could go too far and spark a surge in inflation which could wipe out savings. But a source said: "That's not today's problem. Today's problem is deflation." The package was welcomed by charities. Save the Children's director of campaigns Adrian Lovett said: "Nobody should imagine this summit is anything more than a beginning. A communiqu feeds no one and words alone do not save a child's life. Out of the bail-out package, $500billion will go into the International Monetary Fund to prop up economies in danger of collapse. There will be another $250billion dollars in "trade finance" to get nations spending again. The rest is earmarked for other measures to help the world economy. What you get for $1trillion Pay off the deficit in Ireland's public spending - 200 times over Stage 73 London 2012 Olympics An entire year's worth of oil for the USA Buy EVERYONE on Earth an iPod Pave the entire U.S.interstate highway system with 23.5- carat gold leaf Purchase Microsoft, Walmart, Google, Coca- Cola, Pepsi Co, Apple and Time Warner and still have $ 243bn left over Spend a dollar per second for 32,000 years Pay for all the goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. produced in Australia in one year Pay off every single American's credit card bill Pay annual salary for Kaka ka·ka n. A brownish-green New Zealand parrot (Nestor meridionalis). [Maori k  k , the world's best paid soccer
player, for 90,000 years
CAPTION(S): HISTORIC SUMMIT Heads of delegation at the G20 in the ExCel centre yesterday P20 Canada's Stephen Harper missed a photo, top, as he was in the loo. Then the retake re·take tr.v. re·took , re·tak·en , re·tak·ing, re·takes 1. To take back or again. 2. To recapture. 3. To photograph, film, or record again. n. 1. saw Italy's Silvio Berlusconi and Indonesia's Susilo Bambang go AWOL. So much for international co-ordination and the leaders presenting a united front |
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