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.”—-Contact The Daily Reveille’s news staff at [email protected]
EU, US call for a global summit to reshape banking
By The Associated Press
October 15, 2008