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G20 summit: Sarkozy praises Brown and Obama for roles in 'historic' outcome | World news | guardian.co.uk

Nicolas Sarkozy tonight lavished praise on Gordon Brown and Barack Obama for their role in the G20 summit but insisted the "historic" outcome would not have been achieved without pressure from France and Germany.

Hailing the greatest financial reform since the Bretton Woods agreement, and ending "the madness of this time of total deregulation", the French president revealed there had been "tensions in the room" until shortly before the conference ended.

"We would never have hoped to get so much," he said at his final press conference. "This is not the victory of one camp against the other, but shows the growing awareness that the world needs to change."

Sarkozy, backed by the German chancellor, Angela Merkel, had several times threatened to walk out if their joint "red lines" on regulation were not preserved - even though this was widely dismissed as tactical posturing.

by In Wales (inwales aaat eurotrib.com) on Thu Apr 2nd, 2009 at 03:41:59 PM EST
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