drhemp
31-03-2009, 02:30 PM
France is threatening G20 walkout
France will walk away from this week's G20 summit if its demands for stricter financial regulation are not met, the finance minister has told the BBC.
Christine Lagarde told HardTalk that President Nicolas Sarkozy would not sign any agreement if he felt "the deliverables are not there".
Strengthening financial regulation will be one of the key issues at the G20.
France wants a stronger global financial regulator than the US and the UK would like.
If France were to leave the summit, it would be a blow to both UK Prime Minister Gordon Brown and US President Barack Obama.
Both men have spoken of their high hopes for the meeting to stimulate international recovery.
"Leaders meeting in London must supply the oxygen of confidence to today's global economy and give people in all of our countries renewed hope for the future," Mr Brown said.
Cracks emerging?
However, splits among other world leaders on how to tackle the economic crisis have also begun to emerge in other areas.
G20 LONDON SUMMIT
# World leaders will meet later this week in London to discuss measures to tackle the downturn. See to the G20 summit.
# The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.
European countries, in particular, are resisting calls to commit to spending more this year and next.
President Obama is due to arrive in London for the summit later. It will be his first visit to Europe since he became president.
President Sarkozy has previously spoken out against "Anglo-Saxon" economies, as has the prime minister of Luxembourg, Jean-Claude Juncker.
"This crisis started in the United States. The Anglo-Saxon world has always refused to add the dose of regulation which financial markets, the international financial system needed," Mr Juncker said last week.
However, there have also been expressions of optimism.
German Chancellor Angela Merkel is reported to have said that chances were high that agreements - for example, to regulate hedge funds - would be reached.
And in spite of her walkout threat, Ms Lagarde was eager to stress that the G20 leaders agree on a range of important issues.
"I am absolutely determined, and President Sarkozy has said it loud and clear, that we actually eradicate non-cooperative centres and tax havens," she said.
"I know that Chancellor Merkel is very much on that line, I know that Gordon Brown has said that old tax havens have nothing to do with this new world.
"Well, we need to deliver on that and we need to be extremely united and strong."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/7974190.stm
Published: 2009/03/31 12:12:52 GMT
© BBC MMIX
What do you make of this? Sarkozy is in on the New World Order project as much as the yanks or the Brits. Could be a ploy to get the Europeans to accept greater global control by making them think the French played hardball to get this deal, against the wishes of the Americans and Brits.
In any case, I wouldn't trust that slimy lizard Sarkozy at all. This is all game playing for further erosion of democracy and greater globalisation.
France will walk away from this week's G20 summit if its demands for stricter financial regulation are not met, the finance minister has told the BBC.
Christine Lagarde told HardTalk that President Nicolas Sarkozy would not sign any agreement if he felt "the deliverables are not there".
Strengthening financial regulation will be one of the key issues at the G20.
France wants a stronger global financial regulator than the US and the UK would like.
If France were to leave the summit, it would be a blow to both UK Prime Minister Gordon Brown and US President Barack Obama.
Both men have spoken of their high hopes for the meeting to stimulate international recovery.
"Leaders meeting in London must supply the oxygen of confidence to today's global economy and give people in all of our countries renewed hope for the future," Mr Brown said.
Cracks emerging?
However, splits among other world leaders on how to tackle the economic crisis have also begun to emerge in other areas.
G20 LONDON SUMMIT
# World leaders will meet later this week in London to discuss measures to tackle the downturn. See to the G20 summit.
# The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.
European countries, in particular, are resisting calls to commit to spending more this year and next.
President Obama is due to arrive in London for the summit later. It will be his first visit to Europe since he became president.
President Sarkozy has previously spoken out against "Anglo-Saxon" economies, as has the prime minister of Luxembourg, Jean-Claude Juncker.
"This crisis started in the United States. The Anglo-Saxon world has always refused to add the dose of regulation which financial markets, the international financial system needed," Mr Juncker said last week.
However, there have also been expressions of optimism.
German Chancellor Angela Merkel is reported to have said that chances were high that agreements - for example, to regulate hedge funds - would be reached.
And in spite of her walkout threat, Ms Lagarde was eager to stress that the G20 leaders agree on a range of important issues.
"I am absolutely determined, and President Sarkozy has said it loud and clear, that we actually eradicate non-cooperative centres and tax havens," she said.
"I know that Chancellor Merkel is very much on that line, I know that Gordon Brown has said that old tax havens have nothing to do with this new world.
"Well, we need to deliver on that and we need to be extremely united and strong."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/7974190.stm
Published: 2009/03/31 12:12:52 GMT
© BBC MMIX
What do you make of this? Sarkozy is in on the New World Order project as much as the yanks or the Brits. Could be a ploy to get the Europeans to accept greater global control by making them think the French played hardball to get this deal, against the wishes of the Americans and Brits.
In any case, I wouldn't trust that slimy lizard Sarkozy at all. This is all game playing for further erosion of democracy and greater globalisation.