World leaders and analysts comment on state of world economy

AP TELEVISION 1. Pan of street near World Economic Forum Congress Centre with WEF sign at checkpoint on street 2. Close-up of guard on rooftop looking through binoculars 3. Wide of WEF venue, flags on roof 4. Close-up of sign reading: "World Economic Forum" with icicles in front of it 5. Interior of Congress Centre 6. Set-up shot of Peter Gumbel, Europe editor of Fortune Magazine 7. SOUNDBITE: (English) Peter Gumbel, Europe editor of Fortune Magazine: "Nobody is under any illusions about the stimulus package. It's going to be a very short-term boost to American consumers in an election year. What it doesn't begin to address is the fundamental problem of the United States economy which is that it is over stretched, that consumer spending is just too big and there has to be some reigning back to bring the economy back into balance." 8. Cutaway close-up of Gumbel's badge 9. SOUNDBITE: (English) Peter Gumbel, Europe editor of Fortune Magazine: "The predictions for 2008 are for overall, around the world, definitely some slowing, how big a slowing we don't yet know. The US is the pivotal player, of course, but if it's not going to be a serious recession in the United States, then everybody will breathe a sigh of relief." 10. Wide of people reading newspapers 11. Close-up of man reading newspapers WEF POOL 12. Wide of panel on stage 13. SOUNDBITE: (English) Dominique Strauss-Kahn, International Monetary Fund managing director: "What I think is the first priority now, is to restore normal functioning of the financial markets, which means that the central bank should continue in providing liquidity to the interbank markets with probably as much or even more coordination that we have seen in the last weeks. And maybe the slowdown we will contemplate in the world economy will have an effect in decreasing the price of commodities, maybe including oil and having less inflation, this will give some room for more active monetary policy." AP TELEVISION 14. Danish Prime Minister Anders Fogh Rasmussen speaking to reporter 15. SOUNDBITE: (English) Anders Fogh Rasmussen, Danish Prime Minister: "I think the European economy has been decoupled from the American economy, partly because we have developed a strong internal market in the EU (European Union) and partly because the European countries have got a stronger foothold on the emerging markets in Asia. So all in all, I do believe that we will see growth rates in Europe which are more or less the same as we have seen in recent years." 16. Wide of Fogh Rasmussen speaking to reporter STORYLINE Amid fears of a global slowdown, delegates at the World Economic Forum in Davos, Switzerland were on Saturday analysing the effects of a possible US recession on a troubled world economy. A housing crisis, turmoil in financial markets and rising fuel costs prompted US President George W Bush and Congress to push an economic stimulus package to try to head off a recession. The package would pump about $150 (b) billion US dollars into the US economy this year. Peter Gumbel, Europe editor of Fortune Magazine, said the measure would only be a "short-term boost to American consumers in an election year". "What it doesn't begin to address is the fundamental problem of the United States economy which is that it is over stretched, that consumer spending is just too big and there has to be some reining back to bring the economy back into balance," Gumbel told AP Television. He said the predictions for 2008 indicated some slowing in world economy. "The US is the pivotal player, of course, but if it's not going to be a serious recession in the United States, then everybody will breathe a sigh of relief," Gumbel said. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/cb38e2a89841f8e93a76f5724df93787 Find out more about AP Archive: http://www.aparchive.com/HowWeWork