Bloomberg:
“The leaders of the U.S., France and the European Commission will ask other world leaders to join in a series of summits on the global financial crisis beginning in the U.S. soon after the Nov. 4 presidential election.
President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Barroso said in a joint statement after meeting yesterday that they will continue pressing for coordination to address “the challenges facing the global economy.” …
“`The first task is to stabilize the financial markets in our own countries,” Bush said in welcoming Sarkozy and Barroso to the Camp David presidential retreat in rural Maryland. “Given that the world has never been more interconnected, it is essential that we work together because we’re in this crisis together.”
Free Markets
He stressed that any steps to prevent future crises must maintain and strengthen the free-market system.
““It is essential we preserve the foundations of democratic capitalism,” Bush said. ”
NYTimes:
“Bush to Host World Economic Summit – The NY Times reports late Saturday that
George Bush has agreed to host a summit of world leaders soon to discuss the
global response to the financial crisis. The announcement was made at Camp David
where Mr. Bush is meeting French president Sarkozy and European Commission
President Barroso. Mr. Sarkozy said “we cannot continue along the same lines
because the same problems will trigger the same disasters”. Mr. Barroso said “we
need a new global financial order”. Early December is viewed as the earliest
time the meeting could take place.
