G8 summit to mull efforts to end economic recession

Meanwhile, huge rescue plans adopted by the major industrialized nations in the past several months have pushed their fiscal deficit to record highs and increased the risk of inflation.

To deal with the worst economic recession in the past 70 years, the industrialized countries have tried everything at their disposal, including trimming the short term interest rates to historic lows. However, signs for an immediate recovery are still elusive.

An urgent task for the G8 leaders at present is how to effectively end the economic recession and to ensure a stable and sustained development of the world economy.