Emergency meeting called by World Financial regarding US loss of AAA rating

World Financial Officials Hold Emergency Call to Discuss U.S. Credit Downgrade

French President Nicolas Sarkozy, left, speaks with British Prime Minister David Cameron during an EU Summit in Brussels.

Financial officials from the Group of 20 major economies reportedly held an emergency conference call Sunday to the discuss the debt crises in the U.S. and Europe following several days of market panic and a downgrade of the U.S. credit rating.

Reuters reported that Japan and South Korea said that they were still confident in U.S. treasuries.

“I expressed our country’s position on the (G20 conference) call that there will be no sudden change in our reserve management policy,” South Korean Deputy Finance Minister Choi Jong-ku told Reuters.

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