European Union leaders, at odds over European farm trade concessions that France has sought to block, met at an historic palace near London on Thursday for a summit on coping with globalization, Reuters reported. European Commission President Jose Manuel Barroso said the EU would make a new agricultural offer soon in World Trade Organization talks aimed at clinching a global trade liberalization deal by the end of this year. British Prime Minister Tony Blair wants the one-day summit at Hampton Court palace to forge a consensus on reforms the 25-nation bloc must make to deal with the challenges of globalization, including freer trade. He is seeking agreement on modernizing the EU's spending priorities -- away from farm subsidies and towards investment in research, higher education and innovation -- which he hopes will pave the way for a deal on a long-term EU budget by year-end. France, the EU's biggest agricultural producer, has accused EU Trade Commissioner Peter Mandelson of exceeding his mandate and warned him against any further offer to lower tariffs that shield European farmers from cheaper international competition. However, supporters of free trade vowed to fight protectionism. "Europe should stick to an open economy, to competition and we should refuse protectionism. It will not save one single job in the long run to protect non-competitive industries," Danish Prime Minister Anders Fogh Rasmussen told reporters. Blair wants the EU leaders to agree on how to adapt their social systems and identify priorities to equip the bloc to cope with the emergence of new economic powerhouses China and India. --more 1332 Local Time 1032 GMT
