Special Report: Global Financial Crisis

    RIO DE JANEIRO, Nov. 10 (Xinhua) -- The ongoing international financial crisis can only be overcome with political solutions, visiting Brazilian President Luiz Inacio Lula da Silva said Monday in Rome.

    "World leaders need to understand that we need to listen less to market analysts and more to experts in social problems and development," Lula said in his speech at the Quirinal Palace -- the official residence of Italian President Giorgio Napolitano.

    The international community needs to build a financial system which is more transparent and immune to speculation, he added.

    Lula, who is on a four-day visit to Italy, also reaffirmed that developing countries should be given more opportunities to participate in the operation of international organizations.

    "I believe that the crisis is an extraordinary opportunity to reflect on everything we did wrong since the Washington Consensus and to create another consensus in which the people, the workers, the industries, the scientific and technological production - not financial speculation -- are the basis of all economic activities," he said.

    Noting that Brazil and Italy have closely connected histories and cultures, the Brazilian leader reminded guests that over 30 million Brazilians are of Italian descent.

    "Our people respect each other," he said.

    According to President Napolitano, Brazil can contribute a lot at the upcoming G20 Leaders Summit slated for Nov. 15 in Washington, and also play an important role in strengthening relations between the European Union and Latin American countries, due to its influence in the region.

    During Lula's stay, he will also meet with Italian Prime Minister Silvio Berlusconi and some businessmen to discuss the financial crisis.