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| Version 0 | Version 1 |
|---|---|
| Brown hosts EU economic meeting | Brown hosts EU economic meeting |
| (about 1 hour later) | |
| Prime Minister Gordon Brown will discuss the risks posed by recent financial turmoil with his French, German and Italian counterparts. | |
| The leaders of Europe's four biggest economies are meeting at Downing Street for talks on how their countries can respond to a global economic slowdown. | |
| In a joint statement already leaked to the media, they are expected to pledge a commitment to economic stability. | In a joint statement already leaked to the media, they are expected to pledge a commitment to economic stability. |
| A news conference is scheduled to take place at 1930 GMT. | A news conference is scheduled to take place at 1930 GMT. |
| Rising risks | |
| Mr Brown is meeting with German Chancellor Angela Merkel, French President Nicolas Sarkozy and Italian Prime Minister Romano Prodi. | |
| European Commission President Jose Manuel Barroso will also attend. | European Commission President Jose Manuel Barroso will also attend. |
| "Recent financial turbulence has increased the risks for 2008," they said in a draft statement prepared to be released after the meeting, but obtained early by Reuters, the news agency. | "Recent financial turbulence has increased the risks for 2008," they said in a draft statement prepared to be released after the meeting, but obtained early by Reuters, the news agency. |
| "We remain committed to co-operating closely to maintain economic stability and deepening economic reform." | "We remain committed to co-operating closely to maintain economic stability and deepening economic reform." |
| Cooperation key | |
| Earlier on Tuesday, Chancellor Alistair Darling told BBC News that cooperation was key to preventing an economic slowdown intensifying. | |
| "With the combination of the right regulatory response and the right economic response, I am confident that we will get through these difficulties and will continue to see growth." | |
| Consumer confidence is deteriorating across Europe as stock markets plummet and the Societe Generale rogue trader scandal makes headlines. | |
| And the US economy, a major destination for European exports, could be headed for a recession, some economists say. | |
| The talks come before finance chiefs from G8 nations meet in Japan in February. |