- News
- Business News
- International Business News
- Managing crisis, leaders to unite
Trending
This story is from October 20, 2008
Managing crisis, leaders to unite
The leaders of the US, France and the European Commission will ask world leaders to join a series of summits on the global financial crisis beginning in the US after the Nov 4 election.
President George Bush, French President Nicolas Sarkozy and European Commission President Jose Barroso said in a joint statement after meeting on Saturday that they will continue pressing for coordination to address ''the challenges facing the global economy.''
The initial summit will seek ''agreement on principles of reform needed to avoid a repetition and assure global prosperity in the future,'' and later meetings ''would be designed to implement agreement on specific steps to be taken to meet those principles,'' the statement said.
European leaders have pressed to convene an emergency meeting of the world's richest nations, known as the Group of Eight, joined by others such as India and China, to overhaul the world's financial regulatory systems. The meetings are to include developed economies as well as developing nations. ''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.''
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.
End of Article
FOLLOW US ON SOCIAL MEDIA
Photostories
Hot Picks
TOP TRENDING
Trending Stories
In Business
Entire Website
- Will banks open only for 5 days a week? Here’s what you should know about IBA’s proposal
- India set to be third largest economy, says S&P Global
- Dalal Street bull run continues! BSE Sensex crosses 69,000 for the first time; Nifty above 20,800
- Byju’s reduces notice period for employees as troubles mount
- Sensex surges over 900 points, Nifty above 20,550 as BJP state election wins bolster Modi's Lok Sabha 2024 prospects
- UltraTech to buy building materials business of Kesoram in 7,600 crore deal
- Tata Technologies stock debuts at a bumper 140% premium; share price at Rs 1200 on BSE
- Tata Technologies share allotment: How to check IPO allotment status, listing date, GMP
- BSE m-cap rides rally in Adani stocks, tops $4 trillion
- Charlie Munger, who helped Warren Buffett build Berkshire, dies at 99
- 'The way Indians eat …': What WWF Living Planet's report says on food consumption patterns
- In anger at Canada minister’s remarks, Pannun threatens to ‘Balkanise India’
- Will Ratan Tata's ‘wish in an envelope’ decide next Tata Trusts head?
- Grocery bills to rise on commodity pain
- Why Haryana poll outcome puts 'psychological' pressure on MVA in Maha
- Trump triggers fresh talk of Americans' flight from USA
- Can Modi repeat the Haryana poll magic in Maharashtra as well?
- When Ratan Tata asked Narayana Murthy why he invited one of Infosys' 'biggest competitor'
- GST hike on electric vehicles to hit adoption: Mercedes-Benz
- Happy Dussehra 2024: Top 50 wishes, messages, and quotes to share
Popular Categories
Hot on the Web
Top Trends
Hurricane MiltonRatan Tata NewsNew UPI Transaction LimitRatan Tata DiesPM ModiRafael NadalShantanu NaiduTom BradyStock Market TodayNarayana MurthyEngland Cricket Team New RecordRatan Tata Inspiring QuotesManagement Colleges of IndiaTop Medical Colleges of IndiaTop Engineering Colleges of IndiaTop Pharmacy Colleges of IndiaLive Cricket Score
Trending Topics
Diwali WishesBigg Boss Tamil 8 Contestants ListDussehra WishesVettaiyan Twitter ReviewSanjay Leela BhansaliVettaiyan ReviewSalman KhanDevara CollectionBigg Boss 18Deepika PadukoneShraddha KapoorRatan Tata Passed AwayColdplayVettaiyan Movie ReviewSwatantrya Veer SavarkarDussehra 2024Watch NFL Live StreamDress To ImpressRatan Tata DeathWordle Answer
Living and entertainment
Latest News
All-Star Tower Defense (ASTD) Codes October 2024TD Bank pleads guilty to money laundering violations, agrees to $3 billion penaltyRanveer Singh: I have a man crush on Tiger ShroffHow to make Ginger Turmeric Shots for seasonal changeEthel Kennedy, widow of Senator Robert F Kennedy Sr suffers stroke in sleep, hospitalised'Stree 2' hits OTT after record-breaking box office success: Here’s where to watch!Da Hood Codes October 2024: Unlock new weapons to elevate your gameplayTriple centurion Harry Brook happy to break Dad's club record'Thalapathy 69': Here's how much Vijay will be earning in his last film!Happy Dussehra 2024: Top 50 Wishes, Messages, and Quotes to Share with Your Loved OnesHow The Tarot Suit Can Be Associated With The Elements'You're drunk': Britons stunned by BBC app's shocking 18,995 mph wind forecast!Arko: The reach of Bollywood is greater than single albumsExclusive- Iss Ishq Ka Rab Rakha fame Shalini Kapoor Sagar on celebrating Navratri festivities says, "We will be shooting the Durga Puja track soon"Leaders of 24 countries, UN chief to attend BRICS summit: KremlinBest Air Purifiers Under 10000 Perfect For Small PlacesSameera Reddy, Riya Sen, Vidya Balan, Shahid Kapoor: The Trendsetting Stars of 90s Music VideosPfizer's cancer drug combo improves overall survival in late-stage study
Copyright © 2024 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service