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US, Europe agree on series of financial summits

©

Text by REUTERS

Latest update : 2008-12-10

US President George W. Bush, his French counterpart, Nicolas Sarkozy, whose government holds the EU presidency, and European Commission President Jose Manuel Barroso will call together other world leaders to address the financial crisis.

View our special report: 'Capitalism on the brink?'

  

CAMP DAVID, Md., Oct 18 (Reuters) - The United States,
France and the European Union on Saturday proposed a series of
world summits on the financial crisis, beginning after the Nov.
4 U.S. presidential election.
 

President George W. Bush, French President Nicolas Sarkozy
and European Commission President Jose Manuel Barroso said
after a meeting at the Camp David presidential retreat they
agreed to "reach out" to other world leaders next week about
the idea of holding a series of summits.
 

"World leaders will be consulted about the idea of a first
summit of heads of government to be held in the U.S. soon after
the U.S. elections," a joint statement said.
 

That summit would seek to "review progress being made to
address the current crisis and to seek agreement on principles
of reform needed to avoid a repetition and assure global
prosperity in the future," the statement said.
 

"Later summits would be designed to implement agreement on
specific steps to be taken to meet those principles," it said.
 

Date created : 2008-10-19

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