Wednesday, April 1, 2009

This isn't going to end well...

The decisions need to be taken now, today and tomorrow,” Mr. Sarkozy said. “This has nothing to do with ego. This has nothing to do with temper tantrums. When it comes to historic moments, you can’t circumvent them.”

He added that tougher regulation — he has called for a “global regulator” would be able to reach inside the borders of the United States and other large nations to deal with international financial firms — is “nonnegotiable.”

“The compromise has to come from all countries around the world,” he said. Saying he trusted Mr. Obama, Mr. Sarkozy said he did not want to point fingers about the crisis. But then, in a verbal jab he has used before, he added, “the crisis didn’t actually spontaneously erupt in Europe.”
I can't wait to see how this ends. A "global regulator" won't happen. It would play hard against the ego of our president. That's the ultimate deal breaker.