[url=http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20081020-1673...“Le laissez-faire, c’est fini,” - Sarkozy[/url]
quote:
Barroso said: “We need a new global financial order,” but “we cannot continue along the same lines because the same problems will trigger the same disaster.”The European Commission president said “hedge funds and tax havens cannot continue to operate as they had been in the past; financial institutions cannot continue without supervisory control.”
Sarkozy said the present setup was no longer acceptable. “This is no longer possible … This sort of capitalism is a betrayal of the sort of capitalism we believe in,” he said.
Faced with the financial crisis that threatens the repeat of the Great Depression of the 1930s, the world’s leading capitalist countries have closed ranks to try to avert the collapse of their system.