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Merkel and Sarkozy lay down G20 marker

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Merkel and Sarkozy lay down G20 marker

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France and Germany got together on Wednesday evening to fire their pre-G20 summit shots at a press conference. They insisted they were in step and determined to defend their priorites, namely regaining control of what they see as runaway markets and renegade financial institutions.

“We say that without new regulations there will be no trust and without trust there will be no recovery. This is our major objective, and it is non-negotiable,” said French President Nicolas Sarkozy. The pair’s main targets were ratings agencies, the executive bonus system, and tax havens. They added that anyone who did not play ball in the future would be named and shamed.