Debate Over EU Cooperation As Credit Crisis Widens

// added October 03, 2008 // 0 comments //
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http://www.npr.org/templates/story/story.php?storyId=95304755

French President Nicolas Sarkozy has called for a European financial summit in Paris on Saturday. Leaders from Britain, Germany and Italy, together with the president of the European Commission and the head of the European Central Bank are expected to take part.

The meeting comes amid disputes in Europe over the amount of coordination needed to respond to the global financial crisis.

In many ways, the financial crisis is a microcosm of the problems of the EU as a whole: How much can and should each sovereign country do on its own, and how much should efforts be coordinated through one of the European financial or political bodies?
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