European leaders are working to put together a joint statement to try to support financial markets, Italian government sources have said.
Markets took no comfort from a meeting of the leaders of Europe's four largest economies in Paris on Saturday.
World stocks plunged to three-year lows today as investors fled to government bonds, gold and the low-yielding yen, fearing policymakers' efforts to contain the credit crisis might not be enough to prevent a recession.
Reuters
