(BRUSSELS) - The European Commission urged the United States on Tuesday to "take its responsibility" after US lawmakers rejected a vast Wall Street bailout plan.

"The US must take its responsibility in this situation, must show statemanship for the sake of their own companies and for the sake of the world," commission spokesman Johannes Laitenberger told journalists.

The US House of Representatives on Monday narrowly rejected a 700-billion-dollar plan to bail out the financial markets by a vote of 228-205.

"The vote yesterday (Monday) by the US House of Representatives has been a disappointment," said Laitenberger. "The turmoil that we are facing has originated in the United States, it has become a global problem."

"We expect that there is going to be a decision very soon" on the package, he added.

The bailout proposal would have granted Treasury Secretary Henry Paulson sweeping authority to buy up toxic mortgage-related assets in troubled banks in hopes of easing the flow of credit and reviving the moribund housing market.

The turmoil engulfing the financial sector worldwide has triggered a series of state bailouts in Europe as governments struggle to contain the impact of the US-born crisis.

"Europe and European authorities are assuming their responsibilities," Laitenberger said.

Laitenberger said that the European Commission was mulling what additional measures could be taken in Europe to bolster the financial sector and they would be unveiled at an EU summit in mid October.

In the short-term, Laitenberger said that "the system is coping and therefore we can also have confidence that it comes up with the right answer."

"At this point, it would not appear that there is a situation that has not been addressed," he added.

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