European Union special summit in Brussels sets 100-day deadline to draw up ambitious reforms for the global financial system
Nov 8th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
European Union Heads of State or Government met at a special summit in Brussels on Friday, ahead of the international summit on the financial crisis which will be held on November, in Washington, to agree principles and approaches which could be adopted. The leaders agreed the task of preventing future crises should be the responsibility of the International Monetary Fund, but failed to set out any details of possible changes to the agency’s role. They set a 100-day deadline to draw up ambitious reforms for the global financial system.