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France; Germany Reject Common European Rescue Fund
Leaders around the world are working this weekend to try to solve the global financial crisis.
Reporter: Associated Press Email Address: news@kake.com |
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Leaders around the world are working this weekend to try to solve the global financial crisis.
The heads of the 15 nations that use the Euro meet in Paris Sunday. German Chancellor Angela Merkel, stressing the need for a "synchronized" response, says a "common tool box" could be the outcome.
In Washington, Henry Paulson meets this evening with representatives of the so-called Group of 20. That's the G-7 industrial powers, plus the world's biggest developing nations including China, Brazil and India. He'll be explaining actions by the U.S. and its wealthy allies to restore confidence.
President Bush hosted G-7 officials at the White House this morning, declaring, "We are in this together. We will come through it together."
The International Monetary Fund, meeting in Washington, has endorsed a G-7 pledge for common action to prevent major bank failures, unfreeze credit markets, help the battered mortgage financial system and help poorer countries.
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