EU financial summit drags on

Other News Materials 7 November 2008 19:14 (UTC +04:00)

A European Union summit called to discuss a set of guidelines for reforming the global financial system dragged on Friday, suggesting the bloc's 27 leaders were struggling to find an agreement, reported dpa.

The lunchtime talks in Brussels were still underway at 1450 GMT, nearly one hour after a scheduled final press conference from the French presidency of the EU had been due to take place.

EU leaders were discussing guidelines on how to reform the global financial system in the wake of the current turmoil on world markets.

The guidelines are meant to be submitted to a meeting of world leaders in Washington on November 15.