Abe Believes World Economy is Comparable to Lehman Crisis
Japanese Prime Minister Shinzo Abe failed in his bid to have Group of Seven leaders warn of the risk of a global economic crisis in a communique issued as their summit wraps up Friday in central Japan. The final statement declares that G-7 countries "have strengthened the resilience of our economies in order to avoid falling into another crisis." Abe had earlier said a risk of the world economy falling into a crisis on the scale of the 2008 Lehman shock is present if appropriate policy measures aren't taken. Bank of New York Mellon Chief Currency Strategist Simon Derrick discusses with Bloomberg's Anna Edwards on "Countdown."
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