By JERUSALEM POST STAFFPublished: NOVEMBER 16, 2008 01:31Advertisement
French President Nicolas Sarkozy said Saturday that Europe has shown "complete unity" during a global financial summit in Washington.
Sarkozy, who currently heads the 27-nation European Union, called the meeting of leaders from nearly two dozen countries historic because so many nations with diverse interests came together and agreed on a plan.
The world leaders have endorsed broad goals to fend off any future crisis and revive the economy. They issued a lengthy statement after Saturday's summit in Washington.
They are pledging to lay the foundation for reform so that the kind of global crisis now dragging down the economy does not happen again.
Calling himself a "friend" of the US, Sarkozy said that it was not easy to convince US President George W. Bush, who hosted the summit, to even consider some European demands - in particular for greater regulation of hedge funds or to examine the question of banker compensation that might encourage risk taking.
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