Sarko Threatens to Walk Out of G20 Summit

French prez seeks tough financial regulations—or else

By Rob Quinn, Newser Staff

Posted Mar 31, 2009 2:11 AM CDT

(Newser) – Nicolas Sarkozy may walk out on the G20 summit if things don't go his way, the Times of London reports. The French president—who blames "Anglo-Saxons" for the financial crisis—is pushing for tougher global financial regulation and has told his ministers that he will abandon the talks if France's demands are not met.

France will not accept a G20 with "language that sounds good but contains no commitments," said a Sarkozy adviser. The French president is also seeking a global financial regulator instead of beefed-up national regulators favored by some leaders, a demand strongly opposed by Britain and the US. British officials claimed the French president is looking for a fight he can present as a victory to the French public.

[Images (3)]

[Quotes (1)]

PARIS - MARCH 19: A Demonstrator holds a banner with an image of Nicolas Sarkozy on it during a protest on March 19, 2009 in Paris, France.Thousands of demonstrators have gathered on the streets of... (Getty Images)

French President Nicolas Sarkozy gestures during a speech on the economy in Saint-Quentin, north of Paris, last week. (AP Photo/Michel Euler)

British police officers stand guard outside the Houses of Parliament ahead of the G20 summit in London, Monday March 30, 2009. (AP Photo/Matt Dunham)

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A basic rule with nuclear deterrence is that you do not say at what point you will use the weapon. - a Sarkozy staffer on whether the French president will walk out on G20 talks

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COMMENTS

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Showing 3 of 4 comments

Newser001

Mar 31, 2009 11:57 AM CDT

The Brits and US got in this predicament but weren't alone (more so the US)... Any wonder why they are opposed to international monitoring bodies...? Yes, Sarkozy must present something of substance not only to the people of France, but the entire EU - the world. The financial industries' casino mentality must be drawn and quartered.

kokuaguy

Mar 31, 2009 7:56 AM CDT

APPLE/MAC/WANTS/$1200TO/ REPAIR/MYSPACEBAR/SO/BEAR/ WITH/ME... GOOD/FOR/YOU/MR/SARKOZY. THIS/IS/A/GOOD/TEST/FOR/PRES/ OBAMA'S/DIPLOMATIC/SKILLS./ BUSH/REFUSED/TO/LISTEN/TO/THE/ FRENCH/AND/GERMANS(AND/ RUSSIA)AND/LOOK/AT/THE/RESULT/ IN/MESS-O-POTAMIA.

Vostok

Mar 31, 2009 5:09 AM CDT

Sarkozy is a populist rat. He was elected as a Right Winger and now the public is eating him alive so he is trying to save himself by playing lefty.

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Nicolas Sarkozy • France • G20 • summit meeting • financial crisis

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Sarko Threatens to Walk Out of G20 Summit