Financial crisis topic of Euro-Asia summit

BEIJING, Oct. 23 (UPI) -- Europe and Asia must work together or face the consequences of the global economic crisis, the European Commission president said Thursday in Beijing.

Unprecedented cooperation was needed to weather the crisis, commission President Jose-Manuel Barroso said before the opening of the Asia-European Meeting in China. With 43 countries attending, the meeting is the largest ever, The Guardian reported.

"We have to face serious challenges which don't respect any borders because they are global," Barroso said during a news conference. "(No) one in Europe or Asia can seriously pretend to be immune."

Barroso noted that the 43 countries attending the conference represent nearly 60 percent of the world's gross domestic product, 60 percent of the world's population and 60 percent of global trade, the British newspaper said.

"Simply, we swim together or we sink together. We need Asia to be on board and more particularly countries like China and India," he said. "The eye of the storm was in the United States but it is a global storm and there will be ripple effects all over the world."

While the economy would dominate the agenda, Barroso said climate change also was a priority.