Sarkozy threatens to bolt. Brown, Obama don’t buy it
By Ben Quinn | Correspondent 04.01.09
LONDON - Watch the Franco-German axis.
France and Germany may present a formidable challenge to the idea of G-20 unity. French President Nicolas Sarkozy is promising to walk out if things don’t go his way.
“I will not associate myself with a summit that would end with a communiqué made of false compromises that would not tackle the issues that concern us.” Mr. Sarkozy said Wednesday morning in a Europe 1 radio interview.
What Sarkozy wants is tougher financial regulations, and less emphasis on stimulus spending.
But Prime Minister Gordon Brown and President Barack Obama are trying to downplay the pre-summit Merkel-Sarkozy contretemps.
“The truth is that that’s just arguing at the margins,” Mr. Obama said at a joint press conference Wednesday in London with Mr. Brown. “The core notion that government has to take some steps to deal with a contracting market place and to restore growth is not in dispute.”
And Brown wasn’t buying Sarkozy’s attempt to upstage the summit either.
“I’m confident that President Sarkozy will be here not just for the first course of our dinner but will still be here when we complete our dinner this evening,” he said.
Sarkozy has laid much of the blame for the economic crisis at the door of “Anglo-Saxon” economies.
What’s the backstory?
A competition between the flamboyant, hyperactive Frenchman and the bookish British Prime Minister over who will be seen as Europe’s de-facto guiding force against the world recession at a time when both are under pressure from their own electorates.
Perhaps more than any other leader, the summit is crucial to the political fortunes of its British host, who is on the ropes at home where he was criticized for jetting around the world in preparation as Britain slides into the deepest recession of any major Western economy.
But we’re just getting warmed up, folks.
Sarkozy and Merkel are planning their own joint news conference later Wednesday. Expect them to criticize Brown for unleashing one major stimulus after another.
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2. jimmie griffin | 04.01.09
This sounds like a bunch of world leaders fighting over the toys in a sandbox, as civilization slowly slips away from us in the New World order!
4. John Speck | 04.01.09
Sarkozy can complain all he wants, but this is truly another adventure in Keynesian economics. If he has a constructive criticism, that would be welcome and if he has a plan, even better.
Mr. Sarkozy, as we say on this side of the pond, “Bring it!”.
7. Rob | 04.01.09
Sarkozy like most French…is a narcissist. Understand narcissism my friends and you will understand politics, politicians and why the world is so screwed up. These types are deeply delusional…yet…they run the world in which we live!. Every elected office shoudl require a series of tests…IQ, EQ, Psychological, etc…Before the candidate is allowed to run for office.
8. Daryl Northrop | 04.01.09
Sarkozy and the rest of Europe do not know who they are dealing with in President Obama. He’s smarter, tougher, and more innovative than all of them put together.
9. STEVE | 04.01.09
AS FAR AS FRANCE IS CONCERNED THEY MAY HAVE A POINT. WE NEED TO NOT OVER SPEND JUST TO MOVE FORWARD. THIS IS LIKE BASEBALL. WE CAN GET THE OVER PRICED PLAYERS AND THEY MAY BECOME A LIABILITY. STICK WITH BUILDING FROM WITHIN. REGULATION I THINK IS THE KEY. THIS IS NEW TERRITORY (THE GLOBAL ECON.)THE USA SHOULD NOT DICTATE TO ANYONE. ALL THE PLANS WITH SPENDING MONEY WE DO NOT HAVE ARE GOING A LITTLE TO FAR TOO FAST. WE COULD PROP UP THE FOUNDATION WITH TEMPORARY MONEY BUT BETTER STILL IS TO UNDERPIN THE FOUNDATION. JUST MY TWO CENTS.
10. CJ | 04.01.09
Whenever I come across anti-French sentiment I’m always confused why people feel that way. Then I see things like this and think, “Oh, I guess I see why.”
11. Tony | 04.01.09
History will show that Sarkozy and Merkel were on the right side of this issue. All this excess debt has to stop some time. Pay me now or…..
12. A. Richoux | 04.01.09
I would think there would be more debate about the massive “stimulus” spending and bank bailouts in the US. I have not seen any discussion of alternatives. For example: why not give the bailout money to the banks that have not failed? This would stimulate liquidity (which was the stated goal of the bail) by giving billions to responsible banks to lend out.
14. Jean L. | 04.01.09
Dear Robert, “Who cares what the french do?”, France is the 5th economic power in the world. I’m Canadian and I would say who cares what Americans have to say… what do you think of that! The fact is that people around the world are sick of being bullied by the US. Do not get me wrong, I think your actual President is a great man and the US can be agreat nation but your not alone in this world, other countries can disagree with your country without being your ennemy, other countries can also be right where you can be wrong. You would gain a lot in listening what others have to say instead of imposing your way and show a minimum of respect to other nations.
16. Robert Therrien | 04.01.09
Dear Mr. President Obama. Please be sure to pack a pacifier and extra bottle of apple juice for the french to make them happy when they start to throw yet another tantrum and refuse to perticipate in anything. In fact I would recommend you bring Mrs. Obama with you as I have heard she is good at handling children. I believe you will need her talents when dealing with the french.
17. Olympian | 04.01.09
This little Napolean wannabe threatened to boycott the Olympics but crawled quietly into his seat punctually.
18. the American Chile | 04.01.09
I just read the paragraph below the type box…..you will also not publish comments agaisnt our way of life, but keep those anti-french.
19. JP | 04.01.09
The French and the Germans told the US not to get into Irak, they were dismissed as “old Europe” and the US invaded Iraq. What a brilliant move that was!
Now the French and the Germans say that they want a summit that produces decisions with teeth, and again the Americans and the Brits dismiss them as irritants.
An American friend with whom I had the opportunity to discuss international affairs over many years one day concluded after my explanations of French postures “it must be hard to be right but not be able to do anything about it”. It is and that pretty much sums it up.
21. Frank | 04.01.09
c’mon people, Sarkozy cannot be conflated with the ‘French’. You can not feel how desperate we are to have this sort of jirk at the head of the state
22. sjackson | 04.01.09
Mr. Sarkozy is brilliant and wants to bring some reality to the French economy and People. He has one problem: The French way of doing tnings is to demand. If denied, they pout until they get what they want.
That’s why France has been in a permanent pout since World War II….still pouting to get what they want and never getting it. So Mr. Sarkozy, brilliant as you are and as well intentioned as you are, go ahead demand and pout some more..you and your predecessors have successfully pouted away all the great contributions France has made to the World..why should we expect less from you?
ssj.
23. sybille | 04.01.09
I don’t think the French president should be too quick to point fingers. His lack of recognizing that everyone has the freedom to worship the way they choose has been tampered with by not recognizing some religious organizations. He needs to clean up his backyard before wanting to play in someone else’s yard.
24. Abraham L | 04.01.09
I hope they deceid to conserve resources, let the bottom hit and rebuild. Ultimately after the culling there will be a stronger economy and old disfuctional business models and practices will go the way of the dinosaur. Labor Unions will have none of it though. They have wiped out manufacturing in the United States and will destroy the US economy if it means that the union execs can squeez out a little more for themselves.
Let them fail and rise again like a Pheonix from the ashes!
25. Peter | 04.01.09
Our world in the state that it is in today because of too much wastful spending and greed. Regardless of how much we have, it never seem enough; therefore, we are spending ourselves into debts of the money we do not have. We need also stop the “Greed”, it is eating us like cancer from the inside us. The rich and the poor, at the end of the day, we all need to eat food and drink water to live, we are no difference in our God’s given humanity. The rich needs to help the poor volunteering so their riches do not become their god. God made the rich and the poor, he who give to the poor lend to the Lord, says in the book of Proverbs. We need to educate our children on financial responsibility, you just can’t spend more than what you earn period.
26. Dan | 04.01.09
I can say one thing about the french people , they are the one who run the country , unlike the U.S. is run by the powerful lobbies and the greedy,this is why we are in the mess we are in today and it will be a long time before things change and get better, so dont seat back and criticize the french people at least they doing some thing about it
27. Patrick | 04.01.09
Actually, France has the 6th largest economy in the world, and the 3rd largest in Europe. So despite anyone’s undeniable urge to make French jokes, their cooperation in this meeting is still essential.
28. John | 04.01.09
Wow, this is written with a serious Anglo-American bias that makes it sound as though France and Germany are merely acting unreasonably and out of some sort of jealousy (of our precious freedoms, right?) are seeking to upstage us. As if they have no national interests of their own to consider or alternative visions worth considering on the direction in which Europe ought to be headed or ways in which to address the global economic crisis.
29. leap | 04.01.09
Depends when you look at it and when you measure, but the size of France’s economy is roughly the same as California’s. May Arnold will show up if Sark bolts!
30. Marie Devine | 04.01.09
Those who agree with you are not your strong asset; it is those who disagree who force you to see your ideas from another viewpoint. God warned against debt, charging interest, insurance (surety), gambling and seeking riches and honor. The Ten Commandment (Exodus 20) say to make no image of anything and not to desire what others have. Our world is corrupted and so far unwilling to turn from our ways. God will bring down the system we choose not to bring down on our own.
The goal in life is not employment; that caused world problems. Borrowing more money to go into debt to strengthen the same system is a slap in the face of God and will see its just reward. The goal is a garden paradise lifestyle that solves the world problems including reoccurring financial crises, pollution, energy crisis, global warming fears, war, immigration, disease and high health care costs, and social security inadequacies. The turnaround to God’s desire for us is quick, fair, easy, inexpensive and beautiful and it is sustainable through eternity.
Ending interest charges, replacing them with small handling charge will decrease the cost of a house by about $462 a month for each $100,000 value. More people would be able to pay the mortgage or sell; they cannot do that with our present interest and insurance charges. If the banks look to recover their money, not oppress the people, they would not have TOXIC assets; they would be viable investments. We are going the wrong way; we need to listen to those who disagree with our plan, God may be trying to tell us something beautiful.
31. ADLord | 04.01.09
I can’t believe I am saying this, but the French are right. By taking Keynesian stimulus steps without fixing banking laws we are putting the cart before the horse and will more than likely be at the same (or worse) place in a decade. In the euporia of the late 90’s ‘New Economy’ we repealed the depression era banking laws and in a decade our economy collapses. Those laws served us fine for 70 years. Fix the laws first, then worry about a stimuls (if it is still necessary). If we do otherwise we will end up chasing our tail.
32. Sam | 04.01.09
“What Sarkozy wants is tougher financial regulations, and less emphasis on stimulus spending”
I guess many agree to the financial regulation part, stimulus spending is something that each country will do on their own in response to the economic condition of their people (as China did).
It’s more than 6 months after the crash, it is high time to put in place some global financial regulations. Sarkozy’s tantrum puts some pressure on all the countries (esp US, Britain), and he and President Lula of Brazil are not wrong in expecting something concrete to come out of the meeting in that respect.
33. Pithy Opiner | 04.01.09
I have to agree with the French and German leaders. I also want tougher financial regs in place.
34. Rick Saxton | 04.01.09
As I understand it, President Sarkozy is not saying we shouldn’t stimulate the world economy, but that we should also work on ways of preventing another disaster like this, while the problem is still fresh in our minds. If that is what he is saying, then I agree. Unfortunately, history suggests that even if we do make laws to prevent this, they will be repealed in fifty or sixty years from how and we will be in a similar situation in another 80 to 100 years from now.
I am very concerned about unintended results from this stimulus. Particularly, RAMPANT inflation caused by printing up FIAT money. Like what happened to Germany after WW I. So what would happen is we would all be poorer after the recession/depression and then what was remaining would be wiped out by inflation. This is a very real and serious possibility. I hope the politicians are up to the task. But it is important to note that most politicians are lawyers, not accountants or economists.
35. Rev. Sean Poland | 04.01.09
I never thought I would live to see the French making more sense that the Americans but the day has come. Good for you Sarkozy and make sure the UK’s Prime Minister does not fool you like Obama has fooled the Americans. Too bad Romney is not there to lend Sarkozy a hand.
Sean Poland
36. Kyle | 04.01.09
I don’t know much about politics or economic stimulus packages, but I do know that it’s not good to be racist. C’mon guys, we’re all in this together. I’m an American, but that doesn’t give me license to say that all the French are stupid. Americans can get pretty stupid too. Remember peace and love guys!
38. Thomas | 04.03.09
I am an American in France presently, and I think that Obama will listen carefully to the French. Why should he not, as he knows that the French have a lot of offer. We have much in common with the French people. All this silly French bashing is unnecessary. We should celebrate our relationship and our common interests. I believe there needs to be tougher regulation of the banking industry. Just look at what happened to the US. We are in no position to lecture other nations about the way to run their economies, because we have lost our credibility internationally, and for good reason. The US is not necessarily the only expert on the block. We have been so smug with our capitalism for so long, but now look how it has failed the American people. And we were lazy to let it happen.
39. Cowboy | 04.07.09
The Untited States is the PARENT of the World. Most of the world has some dependency on the United States. As for Rich people, we need them so that they can create jobs for the poor people. Europeans should hold their critisicms of the United States. The United States is not perfect. After all we rescued Europe in World War 2. P.S. We should be scared to death because Obama is our President now. He is going to tax us to death and ruin our Military. We will not be able to rescue anyone anymore.
Cowboy
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1. Joe | 04.01.09
Isnt Capitalism great?