Europe wants India in global financial summit: Sarkozy

LONDON: European leaders have invited India to join in an emergency global summit on rebuilding the world's financial system.
 
The summit call was made in Paris on Saturday by French President Nicolas Sarkozy after a meeting on the global economic crisis between him and the leaders of Britain, Germany and Italy.
 
France currently holds the rotating presidency of the 27-nation European Union.
 
Sarkozy said the summit is planned for next month and is expected to include not only the Group of Eight (G8) leading industrialised nations, but also India, China, South Africa, Brazil and Mexico.
 
Sarkozy, speaking on behalf of Europe, said he wants all leading economic nations together to create “a new financial world just as Bretton Woods did 60 years ago”.
 
“We need to literally rebuild the international financial system. We want to lay the foundations of entrepreneurial capitalism, not speculative capitalism,” he declared.