The head of the European Central Bank, Jean-Claude Trichet, has appealed to US lawmakers to pass their government's financial bailout plan.
Trichet described the credit crunch as the worst upheaval since World War Two. The leaders of the European Union's four biggest economies, Germany, Britain, France, and Italy are to meet in Paris on Saturday to discuss coordinating a European response to the global credit crisis. There have been suggestions that the EU set up a similar plan to the one put forward by the US administration. However, Germany strictly opposes the idea.
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