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US President George W Bush has called for co-ordinated action by leading industrialised countries to tackle the worldwide credit crunch.
A common response must be "well thought-out", Mr Bush said.
He was speaking as world markets remained volatile amid ongoing uncertainty, despite last week's $700bn (Ј380bn) US rescue package.
The International Monetary Fund has also called for joint action estimating financial losses at $1.4 trillion.
The US president was speaking at an office supply company outside Washington, following talks earlier with European leaders earlier on Tuesday.
Mr Bush said finance ministers from G7 nations would meet in Washington at the weekend to discuss the crisis.
He said the financial meltdown had created hardship for many Americans, but pledged : "We have been through tough times before and we're going to come through this again."
"We can do it" should be the motto for the US right now, he added.
He said the rescue plan would free up credit for businesses and families but that it would take some time to work.
"Thawing the freeze in the financial system is not going to happen overnight," he warned.
London's FTSE 100 index closed up slightly despite heavy losses by banking shares.
France's Cac 40 index also ended higher. In morning trading on Wall Street, the Dow Jones was down 1%.
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(BBC)
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