11/25/2008 05:12 am ET Updated May 25, 2011

Asian And European Leaders Urge New Financial Rules

Leaders from Asia and Europe on Saturday called for new rules and stronger regulation of the global monetary and financial system at the close of a two-day summit in Beijing as China assumed a new leadership role in the crisis.

Chinese Prime Minister Wen Jiabao said the world's economic problems had become so massive that measures beyond the many billion-dollar bailout packages already announced might be necessary to avert further damage.

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