Tuesday

The Daily WAR (13-04)

Reading between the lines, and thinking outside the box . . .
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    President Sarkozy has threatened to walk out of London's G20 summit if France's demands for stricter financial regulation are rejected.
    A deal to increase regulation to prevent a repeat of the current banking crisis is to be a key feature of the summit but France is pushing for a global financial regulator.
    The move has been vehemently opposed by the UK/US, and Gordon Brown has dismissed the idea as ridiculous.
    Sarkozy, who blames the "Anglo-Saxons" for causing the economic crisis, told his ministers last week that he would leave Mr Brown's summit "if it does not work out."
    Germany and other nations are also reported to be against a global regulator. Countries against the proposal are expected to suggest instead that their national regulators should co-operate more.
 
    European countries are pushing for the G20 summit to focus on revamping the global financial architecture, but clashes with the US over stimulus packages continue to overshadow their drive ahead of the meeting this week.
 
    All eyes are on London this week as leaders from the world's leading economies gather to find a way out of the growing financial crisis.
    But tensions are growing between the US, Europe and China, and a common course has so far proven elusive.
 
    Any remaining expectations that this week's G20 summit in London would produce a coordinated global response to the economic crisis are best put aside.
 
    The G20 family photograph may look good but the summit can not possibly live up to its overblown expectations.
(Cartoon: Merkel bans blue)
 
    The G20 leaders must be flexible - a little protectionism could give nations vital breathing space.
 
 
 
    The financial crisis is about to turn into a big political and social as it turns into a crisis of unemployment.
 
 
 

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