Globalisation rules must take India, others on board: Sarkozy

Prakash Chawla
Davos, Jan 28 (PTI) India, Latin America and Africa must
be taken on board while framing the rules for globalisation in
the post-economic crisis scenario, French President Nicolas
Sarkozy said at World Economic Forum's annual meeting here.
"We cannot govern the world of the 21st century with the
rules and principles of the 20th century. We cannot govern
globalisation while relegating half of humanity to the
sidelines, without India, Latin America or Africa," he said in
his opening address on Wednesday.
Being the first French President to address the WEF in
its 40 years, Sarkozy said the post-crisis world has to be
viewed differently from what happened before the second half
of 2008.
"We cannot look at the post-crisis world in the same way
as the world before the crisis," he said, coming down heavily
on the behaviour of the reckless bankers whose actions led to
the financial crisis.
He said but for the unity of the emerging and advanced
countries as represented in the Group of 20, it would have
been difficult for the world financial system to get the lost
trust back.
"Without the G-20, it would not have been possible to
envisage regulating bonuses (of bankers and financial services
giants), closing down tax havens and changing the rules of the
accounting and prudential standards", he added. MORE