DEUTSCHE WELLE: French President Sarkozy called Tuesday for a summit to tackle the global financial crisis and urged world leaders to draw lessons from capitalist excesses in a speech before the UN General Assembly.
In a hard-hitting speech before the UN General Assembly in New York on Tuesday, Sept 23, French President Nicolas Sarkozy demanded that those responsible for the global financial turbulence be punished and called for a "regulated capitalism."
"Today, millions of people across the world fear for their savings, for their apartment, for the funds they have put in banks. It is our duty to give them clear answers," the French president, who chairs the EU's presidency, said. "Who is responsible for this disaster? May those who are responsible be punished and held accountable," he said.
In his first public statements on the financial crisis which has rattled world markets and sparked a $700 billion US rescue package, Sarkozy urged major powers to devise a new form of regulated market economics that would prevent the excesses behind the current credit crisis which felled investment bank Lehman Brothers. Sarkozy Calls for Global Summit to Overhaul Financial System >>> | September 23, 2008
The Dawning of a New Dark Age (Paperback – USA)
The Dawning of a New Dark Age (Hardcover – USA)
