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UN Offers to Hold Global Financial Reform Summit


U.N. Secretary-General Ban Ki-moon is offering to hold an international summit on global finance reform by early December. The secretary-general Saturday agreed to host the gathering at the U.N. headquarters in the northeastern U.S. state of New York.

Mr. Ban says French President Nicolas Sarkozy, who holds the rotating EU presidency, has agreed to the gathering.

The U.N. chief says it is important to work quickly to reform the global financial system.

In September, President Sarkozy told the U.N. General Assembly the international community has a political and moral responsibility to act quickly.

Mr. Sarkozy called for the creation of global institutions to regulate and rebuild the financial system.

Some information for this report was provided by AFP and Reuters.

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