Sarkozy Meets with Obama to Propose a 'Reinvention' of the New World Economy

President Sarkozy of France Says Europe and America Must Come Up With New Answers

March 29, 2010

Talk Radio News Service - ... Sarkozy emphasized that if Europe and America do not redesign the global financial architecture, then no other alliance will succeed. He highlighted the urgent need for an open discussion on the economic crisis and world economic regulation.

“We can no longer expect a capitalist system where there are no rules, no regulation, no protectionism.”

Sarkozy will meet with President Obama tomorrow to discuss the global economic collapse and to propose a “reinvention” of the new world economy. He will also congratulate Obama on his reform of the health care system.

Additionally, Mr. Sarkozy cited the escalation and crash of oil prices and fossil fuels and the need for countries producing these resources to regulate prices.

He also called for a full reform of the United Nations Security Council where not a single African country (1 billion people) is represented.

“Nor is there a single Arab country represented or India, where there are over 1 billion people and it is the second most powerful economy and does not have a seat–why is that the case? How do you expect to regulate without these countries? Is that responsible? Does that make any sense to you?” he added.

Sarkozy and Prime Minister Gordon Brown of the United Kingdom recently initiated a greater push for full reform of the Security Council.

He added that Iran must not be allowed to “get its hands on nuclear weapons” and that the alliance between Europe and the United States is particularly essential in this regard. He also gave praise to Obama in working to fight terrorism and said the Moscow train bombings this morning demonstrate the urgency for the world community to work together to put an end to global terrorism.