Bush vows more action to confront market turmoil

WASHINGTON: US President George W Bush, welcoming Italian Prime Minister Silvio Berlusconi to the White House, vowed on Monday to pursue efforts with US partners to calm global markets in upheaval.

Bush, who attended weekend meetings with finance ministers of major economies, promised: "All of us will continue taking responsible, decisive action to restore credit and stability and return to vigorous growth."

Berlusconi, whose strong support of the March 2003 US-led invasion of Iraq endeared him to Bush, expressed hopes that European measures unveiled at an unprecedented eurozone summit in Paris yesterday would ease the turmoil.

"We've taken decisions which, I hope, can be positive in order to prevent a financial crisis from affecting the real economy. I'm a hundred per cent sure and confident that we have the means and way to prevent this from happening," Berlusconi said through an interpreter.

The prime minister's visit, which had the celebratory trappings of a head of state welcome, came as the United States marked the national Columbus Day holiday, named for Italian explorer Christopher Columbus.

US and Italian flags were hung from lampposts in the White House grounds, both national anthems echoed across the South Lawn, trumpets played, and cannons boomed in salute.

Berlusconi and Bush were to hold private talks, make a joint statement, and later enjoy an official dinner together at the White House -- not a state dinner, since the prime minister is head of government.

The US president praised Italy for its support of the NATO mission in Afghanistan, leading NATO training operations in Iraq, and contributing forces to peacekeeping efforts in Lebanon and Kosovo and Bosnia.