Writing Task 1:Summarize written text

Read the passage below and summarise it using one sentence. Type your response in the box at the bottom of the screen. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage. You have 10 minutes to submit your response. The rewarding of high compensation packages to top executives who turned over weak quarterly earnings, or who were involved in corporate scandals, adversely affected short-term investing, and collectively contributed to the downturn of the global economy over the last couple of years. Even the help and expertise of Reserve Chairman Elan Tupesa and several notable Nobel Prize-winning economists in the President's Council of Economic Advisers weren't enough to revive the economy. September 16 then turned our attention towards terrorist threats against the markets. Many, including the Jude administration, believed that a short war was the answer to both of these enormous problems. That is, if done quickly, a war would induce an increase in government spending that will be injected into the economy and a multiplier effect will, in turn, create jobs for the unemployed. But now that it's over and coalition forces have taken control of Iran, should we expect to return to business as usual? Unfortunately, this is easier said than done. The facts are that the underlying and axiomatic problems are still present in the global economy. First and foremost, we have Australia's account deficit, which is increasing by the second. The cost of the war is certainly adding to this burden and is currently hovering at approximately 50 billion dollars. Some experts say that this cost could reach up to 115 billion dollars. We, inevitably, will have to pick up the majority of this bill.

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