Image via Wikipedia
France and Germany delivered a late threat to derail Gordon Brown’s efforts to secure a global recovery deal last night by demanding new concessions from the United States on financial regulation.
In a classic show of eve-of-summit brinkmanship, Angela Merkel and Nicolas Sarkozy joined forces to give warning that they would refuse to sign any agreement that did not meet their “red lines” on tax havens, hedge fund regulation, tracing “securitised” assets sold around the world and capping bankers’ remuneration. They also wanted the “naming and shaming” of tax havens that refused to go along with tougher regulatory rules, which is being opposed by the United States.
In a reminder of former confrontations between America and the countries of Old Europe, Mr Sarkozy suggested that Europe would not take economic direction from the US. He appeared to suggest that America would have to compromise, adding pointedly: “The crisis didn’t spontaneously erupt in Europe, did it?”
G20 summit: European demands threaten to wreck deal - Times Online
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_a.png?x-id=dfea824d-e4ff-4537-9cae-846e108d11b4)
No comments:
Post a Comment