World leaders seek talks on financial crisis, multilateral reforms (AFP)

UNITED NATIONS (AFP) – World leaders demanded urgent steps to contain the global financial crisis and a sweeping reform of multilateral institutions, including the Security Council, during the UN General Assembly's annual debate.

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But on the first day Tuesday of the 192-member Assembly's debate, the world's financial meltdown took center stage, with UN chief Ban Ki-moon stressing the need to "restore order to the international financial markets."

In a farewell speech to the assembly, US President George W. Bush assured worried world leaders that his administration and the US Congress would approve an emergency 700-billion-dollar Wall Street bailout "in the urgent time frame required."

French President Nicolas Sarkozy said those leaders most directly concerned by the issue had a duty "to meet before the end of the year to examine together the lessons of the most serious financial crisis the world has experienced since that of the 1930s."

The French leader, who holds the rotating presidency of the European Union, later told a press conference that he had in mind a "G8 format," referring to the eight leading economic powers, that could be opened to "emerging countries."

Bush also urged the world body to fully implement sanctions against North Korea

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