Bush says financial crisis needs coordinated response

WASHINGTON (Reuters) - President George W. Bush on Saturday said the financial crisis will require a global coordinated response and the top industrial nations will work together to solve it as quickly as possible.

"All of us recognize that this is a serious global crisis and therefore requires a serious global response," he told reporters after an unusual Saturday gathering with the Group of Seven economic chiefs. "I'm confident that the world's major economies can overcome the challenges we face."

He said the crisis would require a coordinated global response and the United States will use all the tools at its disposal to deal with the crisis. But he cautioned that it will take time to resolve the credit crunch.

(Reporting by Jeremy Pelofsky and David Lawder; Editing by Neil Stempleman)