German Chancellor Angela Merkel and French President Nicholas Sarkozy have warned the US not to block attempts to build an international financial regulator, calling for a new economic body similar to the UN's Security Council. "I've always in my political life been a supporter of a close alliance with the United States but let's be clear: in the 21st century, a single nation can no longer say what we must do or what we must think," said Mr Sarkozy at an international symposium in Paris on Thursday (8 January), shortly before US president-elect Barack Obama enters office. Mr Sarkozy and Ms Merkel say capitalism needs new global oversight The French leader had originally called the Paris meeting - "New World, New Capitalism" - a global "summit," but limited his ambitions after few international leaders deigned to attend. "We'll take our decisions on 2 April in London," he went on, referring to an upcoming meeting of the G20. "Perhaps the United States will join us in this change."
German Chancellor Angela Merkel and French President Nicholas Sarkozy have warned the US not to block attempts to build an international financial regulator, calling for a new economic body similar to the UN's Security Council.
"I've always in my political life been a supporter of a close alliance with the United States but let's be clear: in the 21st century, a single nation can no longer say what we must do or what we must think," said Mr Sarkozy at an international symposium in Paris on Thursday (8 January), shortly before US president-elect Barack Obama enters office.
Mr Sarkozy and Ms Merkel say capitalism needs new global oversight
The French leader had originally called the Paris meeting - "New World, New Capitalism" - a global "summit," but limited his ambitions after few international leaders deigned to attend.
"We'll take our decisions on 2 April in London," he went on, referring to an upcoming meeting of the G20. "Perhaps the United States will join us in this change."
I don't think Sarko's being as bold as he'd like to come off here (shocking, I know). Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
Obama has offered Harvard law professor and author Cass Sunstein the job of running the Office of Information and Regulatory Affairs. Having Sunstein, a close Obama friend, in the position suggests that Obama is keen to overhaul the regulatory system. In Obama's speech today on his stimulus package, he had nothing but bad things to say about past regulatory efforts.
Foreign Policy has just bought half of the American IR blogosphere...
