G7 finance leaders pledged to take decisive action and work together to stem the escalating financial crisis after another day of gut-wrenching falls on world markets.
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THIS time last year, with the stock market near its all-time high, the property market booming and the Singapore economy cantering towards a growth rate of 7.5 per cent for 2007, who would have thought we were, in fact, on the cusp of a recession?
IF THE events of the last week have a silver lining, it is that they have driven home the fact that we are all in this together. The crisis is global. We will sink or swim together. The hurried decision of G-7/8 finance ministers to meet yesterday in Washington is belated recognition of this fact. But one thing we have learned from recent unsuccessful attempts to right the ship is that empty words of reassurance are not enough.
IT HASN'T even been launched but it's already sold out till 2011. There are no prices and no production schedule but Ferrari has managed to snag at least 6,000 buyers with its sensational hard-top convertible.
