EU leaders meet to discuss global economic crisis

European leaders, including Czech Prime Minister Mirek Topolánek, have met in Berlin to discuss ways of tackling the global economic crisis - an attempt by leaders to coordinate Europe’s stance ahead of April’s G20 Summit in London. German Chancellor Angela Merkel invited fellow leaders for the one-day meeting. Participants agreed on a number of steps, above all that new rules will be needed in oversight and regulation of all financial markets “without exception”. Also agreed was the need to implement stimulus measures limiting the distortion to competition to an “absolute minimum” - reaction to recent charges of protectionism. Earlier this month, French President Nicolas Sarkozy drew criticism from Prague when he suggested French automakers should move foreign production back to France to secure government funding.

Author: Jan Velinger