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Thursday, April 2, 2009

Sarkozy calls for tougher G20 rules

France and Germany have called for tighter regulation of the world's financial system, a day before the G20 summit in London.Nicolas Sarkozy, the French president, who has threatened to walk out of the gathering, said that that he would not be associated with "false compromises" over new financial regulation.Angela Merkel, the German chancellor, said that she supported Sarkozy's position that the G20 should not settle for weak compromises."What the French president means is that we must ... not make weak compromises with a view to the financial market constitution of the future. I support him in this," she said.

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