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TUESDAY, NOVEMBER 24, 2009
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Sarkozy: World Growth Must Come First

French prez urges G20 to work for better kind of capitalism

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(Newser) – Today's G20 talks must focus on restarting global growth through a better-regulated form of capitalism, Nicolas Sarkozy writes in the Washington Post. The international financial system needs urgent restructuring, writes the French president, and confidence cannot be effectively restored unless reforms are carried out with a greater sense of morality and solidarity among nations.

The world should work towards renewing the entire multilateral system in the coming months, Sarkozy writes, ensuring emerging economies are given their share of responsibilities and the worst-hit nations are given the help they need. "I remain convinced that the world can emerge from these troubled times stronger, more united and with a greater sense of solidarity," he concludes, "provided we have the will to do so."

French President Nicolas Sarkozy reacts during a meeting on the theme of stimulus plan measures in Chatellerault, western France,Tuesday, March. 31, 2009.
French President Nicolas Sarkozy reacts during a meeting on the theme of stimulus plan measures in Chatellerault, western France,Tuesday, March. 31, 2009.   (AP Photo/Jacques Brinon Pool)
Ahead of the G20 summit, a lone protester delivers a speech on the financial issues in front of the Bank of England, left, in central London's City financial district, Tuesday March 31, 2009.
Ahead of the G20 summit, a lone protester delivers a speech on the financial issues in front of the Bank of England, left, in central London's City financial district, Tuesday March 31, 2009.   (AP Photo/Lefteris Pitarakis)
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This crisis is not a crisis of capitalism but the breakdown of a system that drifted away from capitalism's most fundamental values. - Nicolas Sarkozy

World growth will be all the stronger for being sustained by a stable, efficient financial system. - Nicolas Sarkozy

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