Sarkozy urges world summit on financial crisis

by SOLARLIFE | September 23, 2008 at 12:32 pm

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Sarkozy asked the "Fat cats" to be punished. He refused to pay into the Bad Bank of Paulson, as German chancellor Angela Merkel said no for any Bad Bank bail out

UNITED NATIONS - French President Nicolas Sarkozy called on Tuesday for a summit of world leaders by the end of the year to address the financial crisis he said required international cooperation.

‘We have retreated too long when faced with the need to give the globalized world the institutions that will regulate it,’ Sarkozy told the U.N. General Assembly. ‘Let us build together a regulated capitalism in which whole swathes of financial activity are not left to the sole judgment of market operators,’ he said.
Sarkozy also called for the G8 group of leading industrialized nations to be expanded to include China, India, South Africa, Mexico and Brazil.
source :http://www.khaleejtimes.com