PARIS - FRANCE will host a Jan meeting of world leaders and experts to seek solutions to the global financial crisis, in a follow-up to last weekend's meeting in Washington, the French president's office announced on Tuesday.
The announcement comes after President Nicolas Sarkozy and British Prime Minister Gordon Brown returned from the Washington summit with less ambitious commitments than they had pushed for on changes to the world financial system.
The Jan 8-9 meeting in Paris will be co-hosted by Mr Sarkozy and Mr Brown's predecessor, Tony Blair. French officials said it was too soon to confirm which world leaders will attend, but that Nobel economists including Joseph Stiglitz and India's Amartya Sen will be present.
Mr Blair was quoted in the French president's office statement as saying the Paris summit comes at a crucial moment, 'when we are trying to define a new model of capitalism and reflect on the values that will help us adapt to globalisation.'
Mr Sarkozy's office said the meeting is meant to be complementary to the Washington summit, but a less formal forum.
'We are living in a crucial period for our economies and our social organizations,' Mr Sarkozy said in the statement. 'More than ever, we should show that we can propose concrete solutions.'
Mr Sarkozy and Mr Blair had pushed US President George W. Bush to host the Washington summit and had hoped for decisions on greater financial market regulation, global alignment of accounting standards, and a bigger role for the International Monetary Fund.
Instead, leaders from rich and developing nations agreed on broad themes to tackle the financial crisis, and to keep talking.
They agreed hold another summit after US President-elect Barack Obama takes office Jan 20, tentatively in London. -- AP
