EU, US Call for Global Summit to Reshape Banking
'A new capitalism,' says French president Thursday, October 16, 2008
Brussels, Belgium (AP) - The Group of Eight major industrial nations announced Wednesday they will hold a global summit -- perhaps as early as November in New York -- to forge common action to prevent another economic meltdown.
French President Nicolas Sarkozy said all European Union nations backed radical restructuring of global institutions like the International Monetary Fund and World Bank. He called for a meeting "preferably in New York, where everything started" and said it should lead to "a new capitalism."
Sarkozy said emerging economies such as China, India and others outside the G-8 should also participate because "no one should feel excluded from what we are recasting."
...we will have an international meeting to take common action ... for very large and very radical changes," Brown told reporters http://www.cnsnews.com/public/content/article.aspx?RsrcID=37618