Sarkozy to press Bush to relaunch international financial system. President George W. Bush offered to host a summit on the global financial crisis and met Saturday with French President Nicolas Sarkozy, who was expected to press the US leader for a bold relaunching of the international financial system. "I look forward to hosting this meeting in the near future ... so we can insure that this crisis does not happen again," Bush said after he welcomed Sarkozy and European Commission President Jose Manuel Barroso here for talks on the economic crisis. Just before the scheduled three-hour meeting, UN Secretary General Ban Ki-moon said he backed the idea of a summit by early December at the latest. "We are in this crisis together," Bush said, detailing steps that have been taken to bolster lending institutions around the world. "These are historic measures suited to our system which I believe will work," Bush said. Ban has proposed holding talks at the UN secretariat in New York, saying earlier in Quebec City, Canada that would "lend universal legitimacy to this endeavor and demonstrate a collective will to face this serious global challenge." The secretary general met with Sarkozy at the 12th Francophonie summit in Quebec City, where the French president pressed for a meeting of the Group of Eight (G8) industrialized nations, and others, to mull an overhaul of the global financial system. A senior Bush administration official said in turn that Bush would prefer to host the talks himself in the United States, where the global crisis started with a collapse of the US subprime mortgage market. The US official did not specify a date for the gathering.
So far, the Americans have been seemed rather less impassioned on systemic reform than Sarkozy, whose country currently holds the rotating EU presidency, and other European nations. Many of them would like a real and full overhaul, a sort of new Bretton Woods, as the accords dating from 1944 that govern international finance are called. Bush on Friday acknowledged the need to ensure that the credit system, threatening in some measure economies around the globe, not be jolted again. His administration overcame some hesitation and agreed to the idea of an international summit including the Group of Eight wealthy industrialized nations as well as major emerging economies. But Bush has barely begun the long route of US systemic reform that in any case will fall upon his successor in the White House in January 2009. The Europeans are interested in some kind of global market oversight, something Bush is lukewarm on. Bush told Sarkozy and Barroso in Maryland that "as we make the regulatory and institutional changes necessary to avoid a repeat of this crisis, it is essential that we preserve the foundations of democratic capitalism -- the commitment to free markets, free enterprise and free trade. "We must resist the dangerous temptation of economic isolationism and continue the policies of open markets that have lifted standards of living and held millions of people escape poverty around the world," Bush said. "This is a trying time for all our nations," Bush acknowledged. He added: "I am confident we'll overcome the challenges we face." Sarkozy stressed it was urgent that "we must stabilize the marketplace as swiftly as possible by coming up with answers. Once calm has been restored, we must avoid at all costs that those who have led us to where we are today should be allowed to do so once again. "We believe in the capacity and the -- the ability of the American people to come up with the answers the world is waiting for, is expecting. Because this sort of capitalism is a betrayal of the capitalism we believe in," the French president said. LISTEN TO THIS US WISE MAN, THE BEST IN THE WORLD. President Reagan's address to the 43d Session of the United Nations General Assembly in New York, New York,September 26, 1988. "Mr. Secretary-General, there are new hopes for Cambodia, a nation whose freedom and independence we seek just as avidly as we sought the freedom and independence of Afghanistan. We urge the rapid removal of all Vietnamese troops ...." First, we must understand the behavior and character of a Vietnameseas described in this book : " THIEF, LIAR : BOOK " GIAI PHONG " by T Terzani which describes a Vietnamese as" THIEF, A LIAR, A KILLER, A DECEIVER , a sleeper ....." Bury From: [EMAIL PROTECTED]: [EMAIL PROTECTED]: "Thou shalt not steal "from the Hedge funds and derivatives .Date: Sat, 18 Oct 2008 10:05:46 -0700 European Leaders Meet Bush to Discuss Economic Turmoil French President Nicolas Sarkozy and EU Commission Chief Barroso meet US President Bush Saturday to discuss ways to combat the growing fallout from the financial crisis amid signs of a looming recession. Mehr zu: title" Exodus 20 version:TEN Commandments. In the King James' Version. The text reads: 2 I am the LORD thy God, which have brought thee out of the land of Egypt, out of the house of bondage.3 Thou shalt have no other gods before me. MONEY ?15 Thou shalt not steal. FREDDY & FANNIE , FRANK BARNEY, CHRIS DOOD, ....MAE OR MAY ?16 Thou shalt not bear false witness against thy neighbour. 17 Thou shalt not covet thy neighbour's house, thou shalt not covet thy neighbour's wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor any thing that is thy neighbour's. LESMENS BROTHERS & SISTERS & WALL SMART STREETERS. AT WALDORF AUSTRIA HOTEL : A DINNER PARTY WITH A MENUE: Obama’s Plan for Illegal Driver’s Licenses Attacked. A CRY OUT ON THE WALL STREET:Help Expose THE THIEVES IN THE COLLAPSE .....LEMANS BROTHERS THAT HAVE LED TO THIS MEETING AMONG THE BEST BRAINS IN THE WORLD:European Leaders Meet Bush to Discuss Economic Turmoil? LISTEN TO THIS US WISE MAN, THE BEST IN THE WORLD. President Reagan's address to the 43d Session of the United Nations General Assembly in New York, New York,September 26, 1988. "Mr. Secretary-General, there are new hopes for Cambodia, a nation whose freedom and independence we seek just as avidly as we sought the freedom and independence of Afghanistan. We urge the rapid removal of all Vietnamese troops ...." First, we must understand the behavior and character of a Vietnameseas described in this book : " THIEF, LIAR : BOOK " GIAI PHONG " by T Terzani which describes a Vietnamese as" THIEF, A LIAR, A KILLER, A DECEIVER , a sleeper ....." Bury You live life beyond your PC. So now Windows goes beyond your PC. See how_________________________________________________________________ Want to read Hotmail messages in Outlook? The Wordsmiths show you how. http://windowslive.com/connect/post/wedowindowslive.spaces.live.com-Blog-cns!20EE04FBC541789!167.entry?ocid=TXT_TAGLM_WL_hotmail_092008 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. This is an unmoderated forum. Please refrain from using foul language. Thank you for your understanding. Peace among us and in Cambodia. 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