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France calls for EU meeting to address financial crisis
French President Nicolas Sarkozy will on Saturday host a meeting of senior EU officials in an attempt to work out a response to the financial crisis which has spread from the United States to the European banking system, officials said.
- Agencies
- Published: 12:38 October 1, 2008
Paris: French President Nicolas Sarkozy will on Saturday host a meeting of senior EU officials in an attempt to work out a response to the financial crisis which has spread from the United States to the European banking system, officials said.
France, which holds the rotating EU presidency, has invited the leaders of Britain, Germany and Italy as well as European Central Bank President Jean-Claude Trichet to the meeting to prepare for a possible G8 summit later in the year.
Sarkozy will also meet Irish Prime Minister Brian Cowen and Dutch Prime Minister Jan Peter Balkenende on Wednesday.
"We have a preparatory meeting for the broader G8 meeting on Saturday afternoon in Paris," Luxembourg Prime Minister and Eurogroup Chairman Jean-Claude Juncker said on Europe 1 radio.
EU leaders will also hold a summit in Brussels on October 15 where they are expected to discuss improving regulations in the light of the crisis.
Sarkozy has taken a proactive role in tackling the growing crisis, just as he played a key part in ending a conflict between Russia and Georgia in August.
"I warmly applaud the initiative of President Sarkozy, who, as president of the European Union, wants to assume the global leadership to put in place anti-crisis financial mechanisms," said Juncker.
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