France and Germany call summits on financial crisis

As the effects of the financial are being increasingly felt in Europe, the leaders of the EU's two biggest nations – German chancellor Angela Merkel and French president Nicolas Sarkozy – are both to organise extraordinary meetings aiming to deal with the crisis, according to press reports.

Ms Merkel will call a meeting of the European members – Britain, France, German, Italy, and the European Union (represented by the EU presidency country and the European Central Bank) – of the Group ...