[Weekly Compilation of Presidential Documents Volume 44, Number 42 (Monday, October 27, 2008)]
[Pages 1366-1367]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Joint Statement by the United States and the European Union on the 
Global Economy

October 18, 2008

    The three leaders had a very positive discussion about the continued 
coordination of steps needed to solve the crisis in today's global 
economy. They agreed they would reach out to other world leaders next 
week with the idea of beginning a series of summits on addressing the 
challenges facing the global economy.

    World leaders will be consulted about the idea of a first summit of 
heads of government to be held in the U.S. soon after the U.S. 
elections, in order to review progress being made to address the current 
crisis and to seek agreement on principles of reform needed to avoid a 
repetition and assure global prosperity in the future. Later summits 
would be designed to implement agreement on specific steps to be taken 
to meet those principles.

Note: The statement referred to President Nicolas Sarkozy of France, in 
his capacity as President of the European Council; and President Jose 
Manuel Durao Barroso of the European Commission. An original was not 
available for verification of the content of this joint statement.

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