G7 plan does not provide specfics

The current statement from the G7:

1. Take decisive action using all available tools to support struggling financial institutions and prevent their failure.

2. Take all necessary steps to unfreeze credit and money markets.

3. Ensure that banks can raise capital from public as well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses.

4. Ensure that savers' deposit insurance and guarantee programs are robust so savers have confidence in the safety of their deposits.

5. Take action, where appropriate, to restart the mortgage securitisation markets.

The five point plan is a good set of principals for what the G& should do on a coordinated basis but it does not provide specifics if you looking for a reason to see the market go up on Monday. Most of these actions are being taken on unilateral basis but what the markets needs is multilateral coordination that will not change the risk in banks across borders. Unilateral action will cause money to see a home bias and not move across borders.