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  1. #1
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    Default Sarkozy, Merkel, Blair call for new capitalism

    The globalist agenda continues...

    Sarkozy, Merkel, Blair call for new capitalism - Yahoo! News

    PARIS – The leaders of France and Germany appeared to put disagreements over economic policy behind them Thursday, calling on the U.S. to join global efforts to address the financial crisis.

    French President Nicolas Sarkozy, leading a two-day conference with former British Prime Minister Tony Blair on the future of capitalism, said the crisis has shown that no country can go it alone on economic policy.

    "In the 21st century, there it is no longer a single nation who can say what we should do or what we should think," he said.

    German Chancellor Angela Merkel said the system "cannot continue as it is" and called for better-regulated financial markets.

    European leaders will meet in Berlin before the G-20 summit in London to decide a common approach as global leaders gear up for a second meeting on the global financial crisis, Sarkozy said.

    Measures will be taken at the G-20 meeting in London on April 2, Sarkozy promised, saying "we cannot accept the status quo."

    He called for closer cooperation on economic policy, saying: "We should discuss how each of us is managing his currency, his interest rates."

    The leaders of France and Germany have differed in the past over how much government support Europe's economy needs.

    Merkel deplored huge debts that governments are accumulating to spend their way out of the present crisis. But she said she recognized, for the moment, that "there is no other possibility."


    Leaders should look beyond financial markets, she said, singling out the American budget deficit and China's current account surplus — or trade balance — as problems upsetting the global economy.


    A Congressional Budget Office report estimates that the U.S. federal budget deficit will hit an unparalleled $1.2 trillion for the 2009 budget year — and that is before President-elect Barack Obama's sweeping stimulus package is calculated.

    European governments have agreed to be flexible about budget rules that limit deficits to 3 percent of gross domestic product as recession bites. Merkel is planning an extra stimulus of up to euro50 billion ($70 billion) and Sarkozy said Thursday that he is considering additional measures.

    French Finance Minister Christine Lagarde said Thursday that Paris is planning to inject a second tranche of euro10.5 billion into some of the nation's largest banks in an effort to spur lending.

    Merkel said the International Monetary Fund has not managed to regulate global capitalism, and she called for the creation of an economy body at the United Nations, similar to the Security Council, to judge government policy.

    Speaking at the conference, European Competition Commissioner Neelie Kroes said "global rules" on government aid to companies would be "helpful."

    "A closer network of competition systems is slowly emerging after decades of work," she said.

    Sarkozy blamed financial speculators for encouraging a system fueled on debt. He called financial capitalism based on speculation "an immoral system" that has "perverted the logic of capitalism."

    "It's a system where wealth goes to the wealthy, where work is devalued, where production is devalued, where entrepreneurial spirit is devalued," he said.

    But no more: "In capitalism of the 21st century, there is room for the state," he said.


    Blair called for a new financial order based on "values other than the maximum short-term profit."

    "The greatest entrepreneur I had the chance to meet was passionate about what he had created, not what he had accumulated," he said.
    Reminds me of Bush's words that went something like "To save capitalism and the free market system, we need to sacrifice free market values". It all makes so much sense. And while our deficit is hitting trillions, Obama wants another trillion dollars to stimulate the economy and many more trillions to come over the coming YEARS, lest we face double digit unemployment; in his words from his address today. Gee, I remember when 700 billion seemed like a really big number some... 3 months ago. We've spent over a trillion so far, on the books, with another SEVEN trillion in expenditures already promised. It almost makes me think that they are just printing money so that everyone can pay off what needs to be payed because one day soon, "Oh don't worry! We'll solve our woes by adopting a new currency beholden to new global regulation!" It's so lovely.

  2. #2
    Senior Member matmos's Avatar
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    Mr Blair has been spouting this twaddle for years. Nobody in the UK takes him seriously. His "Third Way" has been abondoned by his party.

  3. #3
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    German Chancellor Angela Merkel said the system "cannot continue as it is" and called for better-regulated financial markets.
    Of course she would, it's in German history. The Prussians had a regulated economy well before 1740, and the state played a huge role in the economy in the 19th century.

    One reason why when remarking about big government, Charles H. Featherstone stated, "we are all Prussians now."

  4. #4
    Senior Member matmos's Avatar
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    Quote Originally Posted by Peguy View Post
    Of course she would, it's in German history. The Prussians had a regulated economy well before 1740, and the state played a huge role in the economy in the 19th century.

    One reason why when remarking about big government, Charles H. Featherstone stated, "we are all Prussians now."
    Maybe the Germans will get a hangover without having went to the party.

  5. #5
    Sniffles
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    Quote Originally Posted by bananatrombones View Post
    Maybe the Germans will get a hangover without having went to the party.
    WTF are you talking about?

  6. #6
    Senior Member matmos's Avatar
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    Quote Originally Posted by Peguy View Post
    WTF are you talking about?
    "Germans are not big spenders; they save 10 per cent of what they earn, which is fine as long as everyone else is spending or investing heavily."

    Germany's manufacturing motor stalls - Times Online

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    o edward cullen! Ardea's Avatar
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    Aren't they all big time Atlanticist capitalists???

    I think they would say this general idea any time, any day...
    Practice random kindness and senseless acts of beauty.

    [SIGPIC][/SIGPIC]

  8. #8
    Queen hunter Virtual ghost's Avatar
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    I am not new to this since I am european. Few months back all european leaders gathered to make this a deal with witch they they will all agree,
    They created a deal, but they waited for Bush mandate to end. Now they are are triyng to gather all leaders of most developed countries to spread the idea.

    The idea is to destroy totally free market on a global level. What will probably damadge US quite a bit, at least it will on ideological level.

    Few months ago I created a thread that the biggest threat to US out there is probably Europe.

    Which is because of number of reasons some of them are :
    US does not see unified group since it does not exist on paper so there should be on threat.
    Europe functions also on the democratic way but it is different model of democracy and society in general.
    € is creating problems for $ since it is created.

    And now this.

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