Sarkozy backs Obama reform, blasts globalisation

2010-01-28 12:05

FRENCH President Nicolas Sarkozy on Wednesday backed Barack Obama’s

plan to restrict the size and operation of US banks and said “globalisation

skidded out of control” in the financial crisis.

“President Obama is right when he says that banks must be dissuaded

from engaging in proprietary speculation or financing speculative funds,”

Sarkozy told the Davos World Economic Forum.

He said the financial turmoil was “a crisis of


“From the moment we accepted the idea that the market was always

right and that no other opposing factors need be taken into account,

globalisation skidded out of control,” Sarkozy declared.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.