Click to play videoParis: The European powers come together to find a solution to the global financial crisis.
The UK, France, Germany and Italy have asked the European Union for greater freedom to tackle the emergency.
Heads of the four countries attended a summit in Paris, and vowed to support their countries banks in an effort to reassure jittery markets and investors.
French President Nicolas Sarkozy and British Prime Minister Gordon Brown have demanded greater regulation.
However, both stopped short of suggesting a US style bailout.
Experts believe that this is largely due to the lack of consensus within Europe about a way out.
Last week, both Ireland and Greece angered their EU neighbours by acting independently and guaranteeing to protect all savings.
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