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| UK will lead the way, says Brown | UK will lead the way, says Brown |
| (20 minutes later) | |
| Gordon Brown has promised Britain will "lead the way" through the global financial crisis, ahead of an emergency summit of European leaders in Paris. | Gordon Brown has promised Britain will "lead the way" through the global financial crisis, ahead of an emergency summit of European leaders in Paris. |
| Writing in the Sunday Mirror, the prime minister said he would urge Europe to copy his blueprint to end the turmoil. | Writing in the Sunday Mirror, the prime minister said he would urge Europe to copy his blueprint to end the turmoil. |
| Mr Brown is to hold talks with French President Nicolas Sarkozy before the eurozone members' meeting. | Mr Brown is to hold talks with French President Nicolas Sarkozy before the eurozone members' meeting. |
| The International Monetary Fund has warned the world's financial system is "on the brink of systemic meltdown". | |
| Downing Street said the prime minister would meet Mr Sarkozy along with the head of the European Commission and governor of the European Central Bank. | Downing Street said the prime minister would meet Mr Sarkozy along with the head of the European Commission and governor of the European Central Bank. |
| Because the UK has not adopted the euro, Mr Brown had not been due to take part in the meeting of eurozone leaders but a Downing Street spokesman said the French president had invited him to attend part of it. | Because the UK has not adopted the euro, Mr Brown had not been due to take part in the meeting of eurozone leaders but a Downing Street spokesman said the French president had invited him to attend part of it. |
| Mr Sarkozy said he wanted to "maximise" efforts by European leaders to deal with the global financial crisis, which has seen global equity markets go into freefall and the collapse of several leading international banks. | Mr Sarkozy said he wanted to "maximise" efforts by European leaders to deal with the global financial crisis, which has seen global equity markets go into freefall and the collapse of several leading international banks. |
| RBS won't be the only bank raising capital in the next few days... I expect HBOS, Lloyds TSB and Barclays to discose that they're raising up to £25bn between them BBC's Robert Peston Robert Peston: All change at RBS | RBS won't be the only bank raising capital in the next few days... I expect HBOS, Lloyds TSB and Barclays to discose that they're raising up to £25bn between them BBC's Robert Peston Robert Peston: All change at RBS |
| In his article, the prime minister said he would urge his European counterparts to copy the UK's £500bn economic rescue package announced earlier this week. | In his article, the prime minister said he would urge his European counterparts to copy the UK's £500bn economic rescue package announced earlier this week. |
| He also echoed a warning from US President George W Bush after the G7 summit in Washington that countries must not "turn against each other" or seek isolation amid the chaos. | He also echoed a warning from US President George W Bush after the G7 summit in Washington that countries must not "turn against each other" or seek isolation amid the chaos. |
| "For Europe, the stakes could not be higher and this is a moment of truth," he said. | "For Europe, the stakes could not be higher and this is a moment of truth," he said. |
| "No country - not even the biggest - can make it just on their own at a time like this." | "No country - not even the biggest - can make it just on their own at a time like this." |
| Global response | Global response |
| Sunday's gathering in Paris was arranged hastily by Mr Sarkozy following a torrid week on the stock markets. | Sunday's gathering in Paris was arranged hastily by Mr Sarkozy following a torrid week on the stock markets. |
| So far, he and German Chancellor Angela Merkel have ruled out a joint financial rescue fund for Europe, similar to the US bail-out of Wall St. | So far, he and German Chancellor Angela Merkel have ruled out a joint financial rescue fund for Europe, similar to the US bail-out of Wall St. |
| French Finance Minister Christine Lagarde said Sunday's summit would put "meat on the skeleton" of a five-point plan agreed by the G7 group of seven industrialised nations. | French Finance Minister Christine Lagarde said Sunday's summit would put "meat on the skeleton" of a five-point plan agreed by the G7 group of seven industrialised nations. |
| In Washington on Saturday, the IMF said it was ready to lend funds to countries in need of capital. | In Washington on Saturday, the IMF said it was ready to lend funds to countries in need of capital. |
| IMF chief Dominique Strauss-Kahn said rich states had failed to restore confidence, but endorsed the new action plan by the G7. | IMF chief Dominique Strauss-Kahn said rich states had failed to restore confidence, but endorsed the new action plan by the G7. |
| Iceland delegation | Iceland delegation |
| In other developments: | In other developments: |
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