Sarkozy, Merkel, Blair call for new global order

[link to news.yahoo.com]
Sarkozy, Merkel, Blair call for new global order
Published on 01-09-2009

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 Germany have differed in the past over how much government support Europe's economy needs.

Merkel deplored huge debts that governments are accumulating to spend their way out of the present crisis. But she said she recognized, for the moment, that "there is no other possibility."

Last Edited by Dr. Acula on 01/21/2014 01:40 AM