US President George W.
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EU reclaims misspent farm funds ... Bush has addressed the nation one day after the House of Representatives rejected a 700-billion-dollar bailout bill for the financial system. He said he was disappointed by the rejection and said the economic damage to the US would be "painful and lasting" if Congress fails to pass a rescue package. Bush reassured the US citizens and citizens around the world that this was not the end of the legislation process. Before he spoke, the European Commission told the US to live up to its special responsibility to solve the global financial crisis. A Commission spokesman said that the European Union was also disappointed at the House's refusal to pass the bailout plan and that they should act quickly.
(Deutsche Welle)
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