UNITED NATIONS (AFP) - UN chief Ban Ki-moon on Tuesday stressed the need for "global leadership" as he pressed world leaders not to pursue narrow national interests in the face of hard economic times. "I see a danger of nations looking more inward, rather than towards a shared future," he said at the opening of the UN General Assembly's annual debate. He spoke of a "challenge of global leadership" to tackle the world's worsening financial, energy and food crises. "We see new centres of power and leadership - in Asia, Latin America and across the newly developed world," Ban told more than 120 heads of state or government, including Presidents George W Bush of the United States and Nicolas Sarkozy of France. "Nations can no longer protect their interests, or advance the well-being of their people, without the partnership of the rest." On the world's current financial crisis, the UN chief stressed the need to "restore order to the international financial markets." Ban, who has chosen implementation of key poverty reduction goals as a major theme of this year's debate, said he saw "a danger of retreating from the progress we have made, particularly in the realm of development and more equitably sharing the fruits of global growth." "Global growth has raised billions of people out of poverty. However, if you are among the world's poor, you have never felt poverty so sharply."And returning to the theme of global leadership, Ban told the assembly: "It takes leadership to honour our pledges and our promises in the face of fiscal constraints and political opposition. In a hard-hitting speech about capitalist excesses before the UN General Assembly on behalf of the 27-member European Union, French President Nicolas Sarkozy called on key world leaders to hold a summit in November to learn lessons from the global financial crisis and rebuild a "regulated capitalism." He also appealed for a "continent-wide economic space" between Europe and Russia. "It's the duty of heads of state and government of the countries most directly concerned 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," Sarkozy told fellow world leaders. "Let us rebuild together a regulated capitalism in which whole swathes of financial activity are not left to the sole judgment of market operators, in which banks do their job, which is to finance economic development rather than engage in speculation," Sarkozy said. In a Press conference afterward, Sarkozy said the summit should be in November based "on the format of the G8", the Group of Eight leading industrial countries, "but with the possibly of opening this to emerging countries." The G8 is made up of the United States, France, Britain, Germany, Italy, Japan, Canada and Russia.