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Bush to host global financial summit on Nov. 15

The White House has announced that a summit on the global financial crisis will be held on November 15 near Washington. It will gather leaders of the G20 countries.

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A summit on the global financial crisis will be held on November 15 in Washington and will gather leaders of the G20 countries to draw up an action plan, the White House said on Wednesday.

"The president today is going to invite the leaders of a group of 20 countries ... to a summit in Washington DC," on November 15 "to discuss the financial markets and the global economy," White House spokeswoman Dana Perino told reporters.

"The leaders will review progress being made to address the current financial crisis, advance a common understanding of its causes and in order to avoid a repetition, agree on a common set of principles for reform of the regulatory and institutional regimes for the world's financial sectors," she said.

The heads of state will "charge working groups to develop recommendations to be considered by leaders in a subsequent summit," she said.
   

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