AP / Yahoo News

PARIS – The leaders of France and Germany appeared to put disagreements over economic policy behind them Thursday, calling on the U.S. to join global efforts to address the financial crisis.

French President Nicolas Sarkozy, leading a two-day conference with former British Prime Minister Tony Blair on the future of capitalism, said the crisis has shown that no country can go it alone on economic policy.

“In the 21st century, there it is no longer a single nation who can say what we should do or what we should think,” he said.

Sarkozy blamed financial speculators for encouraging a system fueled on debt. He called financial capitalism based on speculation “an immoral system” that has “perverted the logic of capitalism.”

“It’s a system where wealth goes to the wealthy, where work is devalued, where production is devalued, where entrepreneurial spirit is devalued,” he said.

But no more: “In capitalism of the 21st century, there is room for the state,” he said.

Blair called for a new financial order based on “values other than the maximum short-term profit.”

“The greatest entrepreneur I had the chance to meet was passionate about what he had created, not what he had accumulated,” he said.

German Chancellor Angela Merkel said the system “cannot continue as it is”

European leaders will meet in Berlin before the G-20 summit in London to decide a common approach as global leaders gear up for a second meeting on the global financial crisis, Sarkozy said.

Measures will be taken at the G-20 meeting in London on April 2, Sarkozy promised, saying “we cannot accept the status quo.”

Leaders should look beyond financial markets, she [Merkel] said, singling out the American budget deficit and China’s current account surplus — or trade balance — as problems upsetting the global economy.

Merkel said the International Monetary Fund has not managed to regulate global capitalism, and she called for the creation of an economy body at the United Nations, similar to the Security Council, to judge government policy.

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Although what was practiced over the last few decades was not capitalism but legalised fraud and semi Communist-Monopolism the final goal for dominant minority has been a global Communist-Capitalism/Monopolism blend which their political puppets are now openly calling for. The video interview below between Norman Dodd and G. Edward Griffin took place in 1982. Norman Dodd headed the House Special Committee/Reece Committee, an investigative committee of the United States House of Representatives. The committee investigated Tax-Exempt Foundations and Comparable Organizations. Norman Dodd explains the committee’s findings that tax exempt foundations are merging Communism/Socialism and Capitalism together within the USA, the final stage of what elites desire.


Alan Watt discussing these issues on his RBN radio show