Crisis Powwow Set for Nov. 15

Nov. 15 is the date
By Newser Editors and Wire Services
Posted Oct 22, 2008 10:18 AM CDT
President Bush makes remarks at the White House Summit on International Development, Tuesday, Oct. 21, 2008, in Washington.   (AP Photo/Lawrence Jackson)
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(Newser) – World leaders will meet Nov. 15 in Washington to address the global financial crisis—the first in a series of summits to mitigate what economists predict could be a long and deep downturn, a senior Bush administration official said today. The first meeting will discuss underlying causes of the financial crisis, review progress being made, and start developing reforms to prevent a repeat.

The meetings will bring together leaders from countries that participate in the G-20 finance process, which includes the European Union as well as China, Brazil, India, Russia, South Korea, and other major economies. President Bush announced the summit along with Nicolas Sarkozy and European Commission President Jose Manuel Barroso, who met at Camp David last week to discuss the crisis.