European leaders - meeting in Brussels to discuss an EU financial rescue plan - have called for radical reform of the global banking system.
British Prime Minister Gordon Brown called for a reshaping of the International Monetary Fund to provide an early warning system for the global economy.
German Chancellor Angela Merkel backed a call by the French President Nicolas Sarkozy for better international supervision of the financial system.
The EU will also discuss raising the guarantee on bank deposits to €100,000 within a year.
However, the European Commission's President, Jose Manuel Barroso, urged leaders not to forget climate change, the original focus of the summit. Mr Barroso also said there was a need for an EU and global response to the financial crisis.
Taoiseach Brian Cowen is among those attending the two day summit.
