European leaders gathering in Brussels are expected to lay out ambitious plans today on how to overhaule the global finance system - je 07.11.2008 08

European leaders are expected to lay out ambitious plans today on how they would like to see the global finance system overhauled. Officials are gathering in Brussels for a strategy meeting ahead of next week's finance summit in Washington. France is heading the group and is calling for a 100-day deadline for action such as extending the International Monetary Fund's powers. It comes as the IMF predicts 2009 will see the worst global recession since the Second World War. The slowdown is already hitting major industries here in Europe.