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| Europe |
| Divided Europe holds financial crisis summit |
| 2008-10-05 |
| The leaders of Europe's four main economic powers held crisis talks on the global financial meltdown on Saturday, brushing aside a dispute that killed off talk of a joint bailout package. After U.S. President George W. Bush signed off on a 700-billion-dollar handout to Wall Street, the financial world's eyes turned to Europe in the hope of more measures to free up capital and reassure jumpy markets. French President Nicolas Sarkozy, British Prime Minister Gordon Brown, German Chancellor Angela Merkel and Italian Prime Minister Silvio Berlusconi were to seek a coordinated response to the credit crunch, which has drained liquidity from banks and stock markets and undermined flagging growth rates. "I want the message to go out from this meeting today: No sound and solvent banks should be allowed to fall because of a lack of liquidity," Brown told reporters ahead of the closed door meeting. |
| Posted by:Fred |