best analysis of what has happened in the global financial system, a top administration official has said.
Bush has called for a leadership summit of Group of twenty (G20) nations in Washington DC where Prime Minister Manmohan Singh is expected to participate on November 15. US president Bush and first lady Laura Bush will host a working dinner on November 14 at the White House.
"... There are a couple of goals. The first would be to identify what the causes of the problem have been so that we understand them and become able to structure some effective solutions" said Ed Lazear, chairman of president's economic advisors.
"And then the solutions, to my mind, would take the form of a list of principles that we would want countries to adhere to. And those principles would have one thing in mind as the primary focus. And that would be that countries would not do things that would undermine the policies of the other countries" he added.
"That's a very big factor. It's a very big factor within Europe in particular because those countries are so closely linked to one another. And we want to make sure that we cooperate with each other so that we don't undermine the process of others" Lazear said.
"We all have ideas on the causes. I think I know the causes but I'm sure that the French think they know the causes as well. And I'm not sure we necessarily agree. So, this is a meeting to try to come to some conclusions on what we think are probably the best analysis," the top White House official said at a briefing.
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