Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Media blather about Sepp Blatter

Read more

DEBATE

After Blatter: Can FIFA clean up its act? (part 1)

Read more

DEBATE

After Blatter: Can FIFA clean up its act? (part 2)

Read more

FACE-OFF

Sarkozy's 'The Republicans' party: Disunited they stand?

Read more

ENCORE!

Film Show: 'In the Shadow of Women' and 'San Andreas'

Read more

FOCUS

Greenpeace struggles after India freezes bank account

Read more

MIDDLE EAST MATTERS

Shiite militias on the frontline in Iraq

Read more

EYE ON AFRICA

FIFA's Blatter steps down amid South Africa 2010 World Cup bribery claims

Read more

BUSINESS DAILY

FIFA's sponsors welcome Blatter's resignation

Read more

EU leaders meet to discuss global financial guidelines

Video by Eve JACKSON

Text by AFP

Latest update : 2008-11-07

Leaders from the 27 EU nations are meeting in Brussels on Friday to devise a blueprint for creating guidelines on international finance, in an attempt to stave off further crises.

 

European leaders are meeting in Brussels on Friday to define a common position on reforming the international finance system.

 

France, which holds the rotating EU presidency, hopes the 27 nations can, at the very least, reach an agreement on guidelines for the G20 summit in Washington DC on November 15. The summit will comprise highly industrialised and developing nations.

 

France will put on the table a plan aimed at controlling financial markets, including cracking down on off-shore tax havens and speculative funds.

 

Europe has had trouble agreeing on a common strategy.

 

The leaders cannot agree on concrete measures to combat the threat of global recession.  The IMF foresees a contraction of economic activity in developed nations next year - the first such contraction since 1945.

 

France aims for the G20 summit to nail out concrete propositions by the end of February, just a month after the inauguration of US President-elect Barack Obama.

Date created : 2008-11-07

COMMENT(S)