{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='IMF pressers; Bush meets Slovakian pres, comments on economy' data-url='/boclips/videos/5c54c518d8eafeecae16da11' data-video-url='/boclips/videos/5c54c518d8eafeecae16da11' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nIMF pressers; Bush meets Slovakian pres, comments on economy\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of Dominique Strauss-Kahn, head of the International Monetary Fund (IMF)2. Cutaway of reporters and cameras 3. SOUNDBITE: (English) Dominique Strauss-Kahn, Managing Director, International Monetary Fund:\"The need for...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of Dominique Strauss-Kahn, head of the International Monetary Fund (IMF)\u003cbr/\u003e2. Cutaway of reporters and cameras \u003cbr/\u003e3. SOUNDBITE: (English) Dominique Strauss-Kahn, Managing Director, International Monetary Fund:\u003cbr/\u003e\"The need for recapitalisation, as I told you the IMF has insisted a lot for months on this, is now I think well understood on both sides of the Atlantic. Cooperation is less evident but for interest rates. So, I urge European countries to work together. There is no domestic solution to a crisis like this one. I know, having myself served as a Minister of Finance of my country, how difficult it is in the European Union to make consensus and to make decisions. I do not underestimate the problems. Nevertheless, cooperation and coordination in actions is the price of success. All kinds of cooperation have to be commended. All lonely acts have to be avoided, if not condemned and that is IMF message for this morning, number one.\"\u003cbr/\u003e4. Cutaway Strauss-Kahn\u003cbr/\u003e5. SOUNDBITE: (English) Dominique Strauss-Kahn, Managing Director, International Monetary Fund:\u003cbr/\u003e\"As you know, our view is that growth will be close to zero next year in advanced economies and about 3 percent in the global economy. So we are on the cusp of a global recession.\"\u003cbr/\u003e6. Cutaway reporters \u003cbr/\u003e7. SOUNDBITE: (English) Dominique Strauss-Kahn, Managing Director, International Monetary Fund:\u003cbr/\u003e\"The severe downturn in the world economy is obvious for everybody, I think. But I want to say is that, even if we see year 2009 around zero for advanced economies and 3 percent, as I just said, for the global economy, we see the beginning of the recovery in the second part of 2009. So, it is a message of hope, and that is probably the message no. 2 of the IMF today that the crisis is serious, the crisis is protracted; but nevertheless, we see that the end of 2009 will be the beginning of the recovery, slow recovery. It will not go fast, but growth will come back, in our view at this time.\"\u003cbr/\u003e8. Wide shot World Bank President Robert Zoellick walking in\u003cbr/\u003e9. SOUNDBITE: (English) Robert Zoellick, President, World Bank: \u003cbr/\u003e\"In July at the G8 summit I said that developing countries were facing a double jeopardy, from the impact of high food and fuel prices. But what was then a double jeopardy, is now a triple hit. Food, fuel and finance, threatening not just to knock the poorest people down, but the whole down. The events of September could be a tipping point for many developing countries; a drop in exports will trigger a fall off investments, deteriorating financial conditions, combined with monetary tightening will trigger business failures and possibly bank emergencies.\"\u003cbr/\u003e10. Wide of Zoellick\u003cbr/\u003e11. SOUNDBITE: (English) Robert Zoellick, President, World Bank: \u003cbr/\u003e\"Over recent weeks, attention has focused on the size of financial packages and on the impact on Main Street. There are Main Streets all over the world; we must look beyond the financial rescue to the human rescue.\"\u003cbr/\u003e12. Wide of US President George W Bush meeting with Ivan Gasparovic, President of Slovakia\u003cbr/\u003e13. SOUNDBITE:(English) George W Bush, US President:\u003cbr/\u003e\"We talked about a variety of subjects. I assured him that the United States will take strong action in dealing with the current economic situation. And I also talked about our common desire to work with our European friends to develop as best as possible common policy.\"\u003cbr/\u003e14. Pan from cameras to Bush and Gasparovic\u003cbr/\u003eThe head of the International Monetary Fund, Dominique Strauss-Kahn, said on Thursday while the global economic crisis is \"serious\", the IMF anticipates the second part of 2009 as the beginning of the recovery.\u003cbr/\u003eDuring a news conference at the IMF, ahead of this weekend's IMF-World Bank meetings, Strauss-Kahn urged \"cooperation and coordination\" in Europe to fight against the economic impasse.\u003cbr/\u003eOn Wednesday, the European Central Bank, in a rare coordinated act with the Federal Reserve, cut key interest rates.\u003cbr/\u003eStrauss-Kahn said cooperation in Europe \"is less evident but for interest rates\". \u003cbr/\u003eWhile the global economy is \"on the cusp of a global recession\", the IMF Managing Director said the second part of 2009 will be \"the beginning of the recovery.\"\u003cbr/\u003eStrauss-Kahn continued \"it will not go fast, but growth will come back, in our view at this time.\"\u003cbr/\u003eMeanwhile, World Bank President Robert Zoellick said developing countries would now face the triple threat of high food and fuel costs, as well as the impacts of the financial crisis.\u003cbr/\u003eZoellick said \"the events of September could be a tipping point for many developing countries.\"\u003cbr/\u003eZoellick also urged developed countries to continue to aid developing countries.\u003cbr/\u003eReferring to the US financial bailout package of 700 (b) billion dollars, Zoellick said \"over recent weeks, attention has focused on the size of financial packages and the impact on Main Street. There are Main Streets all over the world; we must look beyond the financial rescue to the human rescue.\"\u003cbr/\u003eAccording to Zoellick, the World Bank estimates that the number of malnourished people globally will grow by 44 (m) million, to 967 (m) million, in 2008.\u003cbr/\u003eMeanwhile, US President George W Bush said the United States would take \"strong action in dealing with the economic situation.\"\u003cbr/\u003eMeeting with Ivan Gasparovic, the President of Slovakia, Bush said the two leaders \"talked about our common desire to work with our European friends to develop a as best as possible common policy.\"\u003cbr/\u003eThe Federal Reserve on Wednesday cut its target for the benchmark rate on overnight loans between banks to 1.5 percent. The cut from 2 percent took the rate to its lowest level in more than four years.\u003cbr/\u003eIn an unprecedented coordinated move, central banks in England, China, Canada, Sweden and Switzerland and the European Central Bank also cut rates after a series of high-stakes phone calls over several days between Fed Chairman Ben Bernanke and his counterparts.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=1124903\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eHigher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=1216220\"\u003eAll Subjects\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Type\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;search_tab_id=2\u0026amp;type_ids%5B%5D=4543650\"\u003eNews Clips\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdd\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e2008\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003eeastern europe, fuel, monetary policy, slovakia, business, food, europe, work, cooperation, george w. bush, economy, finance\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-tags-heading'\u003eAdditional Tags\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list keyterms' data-identifier='Boclips::VideoDecorator' data-type='keyterms'\u003einternational monetary fund, government policy, government and politics, financial services, industries, central bank interest rates, economic policy, dealing, financial markets, government business and finance, kind, developing countries, development banking, ivan gasparovic, year, banking and credit, recovery, view, financial crisis, world, world bank, growth, told, trigger, dominique strauss-kahn, global economy, european central bank, european union, recessions and depressions, beginning, central banking, crisis, country, ben bernanke, double jeopardy, develop, robert zoellick, policy, talked, impact, today, slovakia government, message, price\u003c/div\u003e\n\u003cdiv class='keyterms-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='educator-ratings-heading' class='rp-info-section'\u003e\n\u003ch2 class='title sr-only' id='educator-ratings-heading'\u003eEducator Ratings\u003c/h2\u003e\n\u003cdiv id=\"educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"all-educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"educator-rating-form-root\"\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-resource'\u003e\n\u003cdiv aria-label='Show resource details' class='rp-show-info' role='button' tabindex='0'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\nShow resource details\n\u003c/div\u003e\n\u003cdiv aria-label='Video player' class='player' id='player-wrapper' role='region'\u003e\n\u003cdiv class='relative container mx-auto' id='lp-boclips-visitor-thumbnail'\u003e\n\u003ca class=\"block\" data-html=\"true\" data-placement=\"bottom\" data-trigger=\"click\" data-content=\"\u003cdiv class=\u0026quot;text-center py-2\u0026quot;\u003e\u003ca class=\u0026quot;bold\u0026quot; href=\u0026quot;/auth/users/sign_in\u0026quot;\u003eSign in\u003c/a\u003e or \u003ca class=\u0026quot;bold text-danger\u0026quot; data-posthog-event=\u0026quot;Signup: LP Signup Activity\u0026quot; data-posthog-location=\u0026quot;body_link_boclips\u0026quot; data-remote=\u0026quot;true\u0026quot; href=\u0026quot;/subscription/new\u0026quot;\u003eJoin Now\u003c/a\u003e\u003c/div\u003e\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: IMF pressers; Bush meets Slovakian pres, comments on economy\" href=\"/subscription/new\"\u003e\u003cimg class=\"resource-img img-thumbnail img-responsive z-10 lp-boclips-thumbnail w-full h-full lozad\" alt=\"IMF pressers; Bush meets Slovakian pres, comments on economy\" title=\"IMF pressers; Bush meets Slovakian pres, comments on economy\" onError=\"handleImageNotLoadedError(this)\" data-default-image=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" data-src=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" width=\"315\" height=\"220\" src=\"data:image/png;base64,R0lGODlhAQABAAD/ACwAAAAAAQABAAACADs\" /\u003e\n\u003cspan aria-hidden='true' class='flex justify-center items-center bg-white rounded-full w-16 h-16 absolute top-1/2 left-1/2 -mt-8 -ml-8 cursor-pointer z-0 border-2 border-primary drop-shadow-md lp-boclips-thumbnail-playBtn'\u003e\n\u003ci class='fa-solid fa-play text-primary text-3xl ml-1 drop-shadow-xl'\u003e\u003c/i\u003e\n\u003c/span\u003e\n\u003c/a\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n"}