Washington - Presidential candidates Barack Obama and John McCain issued a joint statement late Wednesday on the ongoing financial crisis and proposed 
700-billion-dollar rescue plan to revive credit markets.

The American people are facing a moment of economic crisis. No matter how this began, we all have a responsibility to work through it and restore confidence in our economy. The jobs, savings, and prosperity of the American people are at stake," the two senators said.

Now is a time to come together ­ Democrats and Republicans ­ in a spirit of cooperation for the sake of the American people. The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail."

McCain is the nominee of President George W Bush's centre-right Republican Party, and Obama is the centre-left Democratic standard- bearer.

"This is a time to rise above politics for the good of the country," the candidates said. "We cannot risk an economic catastrophe. Now is our chance to come together to prove that Washington is once again capable of leading this country." (dpa)