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In order to discuss the matters of global financial crisis France has decided to organize an emergency summit of the world's leading economic powers. This announcement was made by French Europe Minister Jean-Pierre Jouyet on September 24, 2008. According to Jouyet, the high level meeting will take place among the nations of G8 by the end of 2008. Mr. Jouyet said that in order to have a better control of the financial markets new and common rules on an international level have to be implemented.
Meanwhile, Joaquin Almunia, Commissioner of EU Economic and Monetary Affairs, has supported the call for the summit. He believes that internal EU action is not sufficient to face the crisis currently shaking world financial markets. The French President Nicolas Sarkozy in statement to UN's headquarters in New York said that it is the duty of world leaders to come up together and draw out a substantial plan to combat the on-going global financial crisis. France is a member of the G8 together with fellow-EU members Britain, Germany and Italy, as well as Canada, Japan, Russia and the US.
