Gordon Brown and other European Union leaders called last night for a global economic summit to 'rebuild the world's financial system' as they held emergency talks on how to prevent a repeat of the current international credit crisis.
At a hastily convened meeting in Paris, French President Nicolas Sarkozy said the heads of the EU's four biggest economies - Germany, France, the UK and Italy - were united on the need to call all leading economic nations together to create 'a new financial world just as Bretton Woods did 60 years ago'.
The summit, planned for next month, is expected to include the G8 leading industrial nations, as well as India, China, South Africa, Brazil and Mexico. Sarkozy, who called last night's meeting in his role as EU President, said it was time for governments to clamp down on speculators and restore a moral element to the heart of a regime that had failed.
