Struggling with the Financial Crisis – Europe Seeks a Solution (1311.2008) People & politics

Summit meetings to discuss the implications of the global financial crisis have become a regular occurrence in Europe these days. France is calling for as much regulation of the markets as possible and would like to see a kind of European economic government. Germany and Britain oppose the idea. German Chancellor Angela Merkel and Finance Minister Peter Steinbrück want more regulation of financial markets, but no centralized institutions. Merkel is trying to mediate between the two positions and, in advance of the G-20 summit in Washington on Saturday, is emphasizing Europe’s and other industrial nations’ responsibility toward developing countries. Annabelle Lutz reports on the financial summit in Brussels.