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Friday, April 03, 2009

The $1Trillion Boost

The G20 agreement to give the world economy a $1.1Trillion boost sent stock markets on an upward journey, as investors allowed themselves the luxury of hoping that the worst of the recession is over and that the ongoing financial meltdown has been staunched.

However, the bedrock of any sustained recovery will be "confidence", irrespective of the size of any cash injection if people do not believe that it will work then it won't work.

The key positive feature of this agreement is not just the size of the boost, but the fact that the leading economies have managed to co-ordinate their actions.

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