PARIS – The leaders of France and Germany appeared to put disagreements over economic policy behind them Thursday, calling on the U.S. to join global efforts to address the financial crisis. French President Nicolas Sarkozy, leading a two-day conference with former British Prime Minister Tony Blair on the future of capitalism, said the crisis has shown that no country can go it alone on economic policy. ‘In the 21st century, there it is no longer a single nation who can say what we should do or what we should think,’ he said. German Chancellor Angela Merkel said the system ‘cannot continue as it is’ and called for better-regulated financial markets. European leaders will meet in Berlin before the G-20 summit in London to decide a common approach as global leaders gear up for a second meeting on the global financial crisis, Sarkozy said. Measures will be taken at the G-20 meeting in London on April 2, Sarkozy promised, saying ‘we cannot accept the status quo.’ He called for closer cooperation on economic policy, saying: ‘We should discuss how each of us is managing his currency, his interest rates.’ The leaders of France and […]
Friday, January 9th, 2009
Sarkozy, Merkel, Blair Call for New Capitalism
Author: EMMA VANDORE
Source: The Associated Press
Publication Date: 8-Jan-09
Link: Sarkozy, Merkel, Blair Call for New Capitalism
Source: The Associated Press
Publication Date: 8-Jan-09
Link: Sarkozy, Merkel, Blair Call for New Capitalism
Stephan: It has become very clear that delusion of Supply Side Economics with its trickle down theories are nonsense, and that a market freed from regulation is not, as claimed, an optimal market. From the debacle of the current financial crisis, let us hope that a new economic model emerges.