Leaders call for new rules for financial system

Seeking a common approach to the global financial turmoil, Asian and European leaders called for new rules guiding the global economy and a leading role for the International Monetary Fund in aiding crisis-stricken countries.

The 43 nations participating in the Asia-Europe Meeting summit reconvened for a second day of meetings in China's capital Saturday, a day after adopting a statement calling on the IMF and similar institutions to help stabilize struggling banks and shore up flagging share prices.

"Leaders agreed that the IMF should play a critical role in assisting countries seriously affected by the crisis, upon their request," the statement …