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World News

16 November 2008, 10:34

World Leaders in Emergency Economic Summit

 

World leaders battling a deepening economic crisis are vowing to cooperate more closely. The vow came at the conclusion of a two-day emergency summit in Washington.



The leaders said that they were determined to work together to achieve "needed reforms" in the world's financial systems.

US President George W Bush said that finance ministers would now work on detailed reform proposals, and then report back.

Mr Bush's successor in the White House, Barack Obama, said in a statement that he was ready to work "together on these challenges" with the G20 when he takes office in January.

"The president-elect believes that the G20 summit... is an important opportunity to seek a coordinated response to the global financial crisis," said a statement issued in his name.

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