Wales Review 2008 – Facing the Future
Head-on
Facing the Financial Crisis
The First Minister of Wales, Rhodri Morgan, has said that the ongoing financial
crisis is a major test for Welsh society and devolution.
His comments came after the first Welsh economic summit, on the 16th of October,
where ministers and businessmen met to deal with the financial crisis. The summit
gathered in Cardiff Bay as recession fears continued to shake global markets. The
FTSE shed more than 5% to finish down 218.2 at 3861.4, its lowest close since April
2003.
Mr Morgan said: "It is a major test for Welsh society, for devolution - this is
the day that Wales steps up to the plate.
Wales is used to tough times from time to time; we saw it in the 1980s when the
coal mines closed down. We've got to make sure that on this occasion we do come
through in good shape as a society by binding together."
Want to read more? Click here to go to the Corporate UK e-magazine