European Union to reconsider budget due to financial crisis

The French President Nicolas Sarkozy has claimed that the budget of the European Union will be reconsidered due to a complicated financial situation. He made a speech at a meeting of leaders of four G8 member states in Paris. The meeting was dedicated to the world financial crisis.
The participants of the meeting (besides Sarkozy, there were the German Chancellor Angela Merkel, the Italian Prime Minister Silvio Berlusconi and the British Prime Minister Gordon Brown) took a decision to support European banks and to reconsider the rules of functioning of the financial system.

Associated Press