The leaders of France and Germany joined forces yesterday to insist that next month's G20 summit focus on tougher global financial regulations, rejecting US calls for European states to spend more on supporting growth.
Speaking after a joint meeting of their cabinets in Berlin, Angela Merkel, German chancellor, and Nicolas Sarkozy, French president, said it was crucial for the summit convened for April 2 in London to achieve “concrete results” on the regulatory front.
“In Europe, we have invested a lot into growth. The priority now is not to spend more but to put in place a system of regulation that will stop such a catastrophe from happening again,” Mr Sarkozy said.
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