Thursday, April 2, 2009

À vous de juger ...

Le Figaro:
Au sommet de Londres, où Berlin et Paris ont obtenu gain de cause sur la régulation des marchés financiers, le président français a redécouvert la force de frappe du couple franco-allemand.

The New York Times:

While the United States was determined to resist European efforts to create regulatory authorities with crossborder authority, officials said the two sides worked out policies on transparency and early risk warnings for banks that would placate France and Germany.

“There’s not going to be a ceding of sovereignty to a global regulator,” said a White House official, who spoke on condition of anonymity because the negotiations were confidential.

Not Nothing

750 gigabucks for the IMF: ça valait le détour. Sarko got enough, I guess, that he didn't pick up his marbles and head home. And the queen got a pat on the back from Michelle Obama, leaving defenders of royalty and protocol clucking about lèse-majesté, but the queen seemed unfazed enough to put her arm around Michelle's waist. Maybe she profited from seeing the film about herself and learning that one stoops to conquer. Michelle and Barack with Liz and Phil looked like Brobdingnagians among Lilliputians; Sarko would have fit right in on the royals' side, but he wasn't invited. He may be regretting all the flattery he lavished on the Brits and the Yanks. The special relationship remains special, and France and Germany, soeurs ennemies, remain stuck with each other.

Financial Regulation

Since Sarkozy and Merkel are now plumping for tighter financial regulation, it may be interesting to look at the thoughts of the experts on whose work they are likely to draw. Here's a post summarizing the suggestions to come out of a conference held at the Toulouse School of Economics.

Tax Havens

Nicolas Sarkozy wasn't always the fierce critic of tax havens that he claims to be today. As a young lawyer, he helped his wealthy clients make use of them:

Elu député en 1988, Nicolas Sarkozy continue sa carrière d'avocat. En accompagnant parfois ses riches clients vers des cieux fiscalement plus cléments.

The article contains other interesting information about Sarkozy's legal career, which merits further investigation.