The Guardian notes that the French president is a man with ambitions for 2011:
Sarkozy's leadership of the G8's six western powers and Russia and China, as well as his rotating presidency of the G20 forum of the largest economies, will focus on his ambitious plans to overhaul the financial system. He wants a new monetary system that does not depend on the dollar, to eradicate tax havens, stabilise commodities markets and tax international transactions.
I added the emphasis.
I’m not a Sarkozy person. But on these issues he’s got it right and is bang on what is needed. Good luck to him for that reason alone.
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Unfortunately Sarkozy might be ‘whistling in the wind’ with this. Unless he secures the agreement of US and others I do not see how this could be achieved. As we have just approved a loan to the Cayman Islands I doubt whether Osborne will want to eradicate tax havens, probably there are too many high profile Brits with money parked there.
Presumably he’ll have equal enthusiasm about tax havens “close” to his own borders such as Monaco and Luxembourg…? 😉
@Teresa Harding
I agree – the obstacles are high
But better it is on the agenda than not!
And yes Osborne is a massive obstacle – he is a natural friend of these places