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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (422326)	10/4/2008 3:56:56 PM
From: tejek	Respond to of 1575624

European leaders vow unity against financial mayhem Sat Oct 4, 2008 3:17pm EDT By Anna Willard and Marcel Michelson PARIS (Reuters) - European leaders vowed after crisis talks on Saturday to do all they could to fend off the financial mayhem that snowballed out of Wall Street and is now hitting banks in Europe. They made statements of principle rather than proposing new concrete measures to deal with the worst financial crisis since the 1930s. "We jointly commit to ensure the soundness and stability of our banking and financial system and will take all the necessary measures to achieve this objective," said a joint statement issued from the meeting in Paris. French President Nicolas Sarkozy, host, said that he and the leaders of Germany, Britain and Italy had agreed governments needed to act in a coordinated manner. But he said he had never gone as far as to propose a pan-European crisis fund for banks -- something Berlin had balked at when talk of it surfaced a few days ago. "We have taken a solemn undertaking as heads of states and government to support the banks and financial institutions in the face of this crisis," he told a joint news conference held with other leaders. German Chancellor Angela Merkel, keen not to become bankroller-in-chief as governments seek a joint response to the worst crisis since the 1930s, said those who caused the trouble must be made to help sort it out. She stuck to that basic message at the news conference where leaders took turns to stress the need to restore confidence and work with other countries on short- and long-term strategy. Continued... Previous Page 1 \| 2 \| 3 \| 4 Next Page reuters.com