EU prepares response to financial crisis

European leaders from France, Britain, Germany, and Italy are meeting to address the financial crisis, but face divisions over a potential bailout plan similar to the US's $700 billion rescue. The European Central Bank is cautious about such measures. Recent bank rescues in Europe, like Dexia and Fortis, highlight the crisis, but Germany opposes a joint European fund. Discussions on lowering interest rates are expected, as recession fears grow, particularly in France. The summit will test European leaders' diplomatic skills in forming a united response.

What is the main point of contention among European leaders regarding the financial crisis response?

• The involvement of non-European countries

• Whether to implement a bailout plan similar to the US

• The role of the European Central Bank

• The amount of money to allocate for the bailout

Which country is strongly opposed to the idea of a joint European fund for bailing out financial institutions?

• Britain

• Italy

• Germany

• France

What measure from the US might European financial officials consider adopting?

• A new banking regulation

• A reduction in interest rates

• A specific US financial measure

• A joint European fund

What economic condition is France currently experiencing according to the transcript?

• Stagnation

• Economic growth

• Recession

• Inflation

What is the anticipated major discussion in Europe in the coming months?

• Increasing the bailout fund

• Lowering the interest rate

• Expanding the European Union

• Introducing new taxes