Tuesday, March 31, 2009

G20 participants begin posturing...

...again, catering to local interests. The entire process is politicized and it does not appear anything substantial will be accomplished.

Which is fine...if only we could send 100 cases of Bourbon to the meetings and keep them inebriated for the rest of the year and let individuals pick up the pieces.

"President Sarkozy yesterday threatened to wreck the London summit if France’s demands for tougher financial regulation are not met.

France will not accept a G20 that produces a “false success with language that sounds good but contains no commitments”, his advisers said.

Asked if this meant a possible walk-out, Xavier Musca, Mr Sarkozy’s deputy chief of staff for economic affairs, said: “A basic rule with nuclear deterrence is that you do not say at what point you will use the weapon.”

The French threat dramatically raised the temperature hours before President Obama arrives in London today. If carried through, it would ruin a summit for which Mr Brown and Mr Obama have high ambitions, believing it vital to international recovery."

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