EU leaders agree to act together to fight financial crisis

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The protectionism that emerged in the western European countries has drawn criticism from the Eastern European members.

British Prime Minister Gordon Brown speaks during a media conference at an EU summit in Brussels, Sunday March 1, 2009. (AP Photo/Geert Vanden Wijngaert)

The leaders aim to prevent protectionism, as the global credit crunch creates a widening economic chasm between Western and Eastern Europe.

Gordon Brown, British Prime Minister, said, "The whole world must agree, as Europe has done today, on a need to reject protectionism, which is the road to ruin and the route to deeper recession. And we must all agree on the need for transparent scrutiny to monitor commitments entered into and we must do more to provide the resources that will facilitate trade between countries."

But the leaders failed to agree on a single fund worth 190 billion euros to bail out central and eastern economies hit hard by the economic downturn.

Germany and other developed economies have rejected Hungary's call for that aid package, saying the aid should be handled on a case-by-case basis.

Editor:Zhang Pengfei