Stella Dawson: Central Banks Promise to Save the World On Monday.

Yes, sport fans, it's finally happened: Our Central Banks Promise To Save our World On Monday, if Greece Elects a Crazy Person This Weekend. A senior US official cautioned that the Greek election will not provide "the definitive signal on what happens next" in the euro zone debt crisis, but if severe market strains emerge after an unusual confluence of three elections this weekend, there are important polls in Egypt and France as well: "The central banks are preparing for coordinated action to provide liquidity," said a senior G20 aide familiar with discussions among international financial diplomats. His statement was confirmed by several other G20 officials. Wall Street stocks jumped sharply on the news, with the S&P 500 and the Dow Industrials both up more than 1 percent. The Euro added to gains and US government debt prices fell, boosting yields. A move to boost liquidity could mark a dramatic backdrop to the G20 summit of world leaders, who will gather in Los Cabos, Mexico, on Monday and Tuesday, where Europe's escalating crisis tops the agenda. Leaders will be accompanied by finance ministers playing an advisory role. The ministers, who usually keep a low profile at these summits, have scheduled a working dinner on Monday and lunch on Tuesday. Depending on the severity of the market response, an emergency meeting of ministers from the Group of Seven developed nations could be held on Monday or Tuesday in Los Cabos, with central bankers joining by phone, a second G20 official said. Their first line of defense probably would be a statement that policymakers are ready to take whatever steps are needed to assure market stability.