WASHINGTON (CNN) -- President Bush announced Saturday that he will host the first of what could be several summits of world leaders to discuss the global response to the financial crisis.
"It is essential that we work together because we're in this crisis together," Bush said at Camp David, Maryland, with French President Nicolas Sarkozy and European Union President Jose Manuel Barroso.
"Together we will work to modernize our financial systems," Bush said. "We must resist the temptation of financial isolationism."
Bush said the summit would include developed and developing nations from around the world.
No date was set, though a White House statement said the gathering would be held in the United States "soon after" the November 4 general election.
Sarkozy emphasized the need to bring Asian states into the discussions.
"We must make haste, because we must stabilize the marketplace," he said. "This is a worldwide crisis, so therefore we must find a worldwide solution."
"Together we will work to modernize our financial systems," Bush said. "We must resist the temptation of financial isolationism."
Bush said the summit would include developed and developing nations from around the world.
No date was set, though a White House statement said the gathering would be held in the United States "soon after" the November 4 general election.
Sarkozy emphasized the need to bring Asian states into the discussions.
"We must make haste, because we must stabilize the marketplace," he said. "This is a worldwide crisis, so therefore we must find a worldwide solution."
The summit will seek to establish reform measures to "assure global prosperity in the future" and would be the first in a possible series of such meetings designed to implement the measures.
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