World leaders begin crisis talks

World leaders have been welcomed to Washington by President George W Bush for a summit to discuss measures to contain the current financial turmoil.
They hope to agree on long-term reforms to reduce the risk of further crises.



But few expect a major breakthrough without President-elect Barack Obama, whose long-term role will be key.
Divisions have also emerged between Europe, which wants stricter market rules, and the US and other countries, which prefer more moderate reforms.
President Bush has been hosting a working dinner at the White House, to be followed by five hours of formal talks on Saturday.
Opening the summit, Mr Bush dampened hopes for quick solutions.

"This problem did not develop overnight and it will not be solved overnight, but with continued cooperation and determination it will be solved," he said.