european leaders

Asian and European leaders said Saturday they have reached a broad consensus on ways to deal with the global financial meltdown and will present their views at a crisis summit next month in Washington.

Asian and European leaders said Saturday they have reached a broad consensus on ways to deal with the global financial meltdown and will present their views at a crisis summit next month in Washington.

Asian and European leaders meeting in China's capital will demand that the International Monetary Fund play a "critical role" in helping countries hardest-hit by the global financial meltdown, according a draft statement seen by The Associated Press on Friday.

President Nicolas Sarkozy suggested that European leaders set up sovereign wealth funds to buy stakes in crucial industries to shield them from foreign raiders.

WASHINGTON : President George W. Bush and European leaders, who have been tussling over whether to revamp the global financial regulatory system, agreed Saturday to take steps toward a series of international ...

At a gathering of European leaders, Prime Minister Gordon Brown of Britain said that organizations such as the International Monetary Fund needed to be revamped.

Banking stocks led equity markets higher in Europe and Asia after European leaders announced plans to inject new capital into troubled banks and to guarantee interbank lending.

European leaders agreed to several measures — German Chancellor Angela Merkel called them a "tool kit" — that governments will be able to use to shore up financial institutions and stop banks' financing problems from contaminating the wider economy.

A few highlights:

Government leaders from the major European Union members gathered in Paris on Sunday to discuss their collective response to the financial crisis.

The president of the European Commission said he was very hopeful that a meeting of European leaders Sunday would take an important step toward a coordinated response to the global financial crisis.