US president announces financial summit
President Bush announced Saturday that he will host a summit of world leaders to discuss the global response to the financial crisis, reports CNN.
"It is essential that we work together because we're in this crisis together," Bush said at a Camp David news conference, joined by French President Nicolas Sarkozy and European Union President Jose Manuel Barroso.
"I look forward to hosting this meeting in the future," Bush said, adding that the summit would include developed and developing nations from around the world.
No timeline was given for the summit, though Sarkozy, who also holds the rotating presidency of the European Union, stressed that the summit needs to be held soon - possibly by the end of November.