Sarkozy: Global monetary system should not rely on dollar

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Sarkozy: Global monetary system should not rely on dollar
By ASSOCIATED PRESS
01/10/2011 21:59

WASHINGTON — President Barack Obama says the US and France must work together this year to address pressing financial issues as the world climbs out of the global economic crisis. Speaking at the White House alongside French President Nicolas Sarkozy, Obama said he looks forward to working with France to help frame the agenda for the upcoming G8 and G20 economic summits. France currently holds the presidency of both groups and will host both summits later this year. Sarkozy says that while he recognizes the importance of the US dollar to the global economy, he wants to work with the US to address current currency imbalances. Sarkozy thinks the global monetary system should not rely so heavily on the US dollar as the world's main reserve currency. He has not proposed specifics about how he envisions a possible future system.

[Chris]

Obama, Sarkozy discuss global economy, terrorism - Israel News, Ynetnews

Obama, Sarkozy discuss global economy, terrorism
Published: 01.11.11, 00:48 / Israel News

President Barack Obama and French President Nicolas Sarkozy pledged to work together to address imbalances in the world economy as nations struggle to recover from the global financial crisis. "Too many people are still out of work, too many businesses are still having problems getting financing, and there's still too many imbalances in the world economy that are inhibiting the prospects of growth," Obama said Monday, sitting alongside Sarkozy at the White House. (AP)

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Oh what a tangled web we weave, when first we practice to deceive.... Sir Walter Scott