For US of A president Obama, we should return to John Maynard Keynes. (1)

For French president Sarkozy, we should return to Karl Marx. (1) (2)

For Christine Lagarde, Sarkozy’s finance minister, the issue of the reserve currency is not at the heart of the financial crisis. (3)

Ivo Cerckel
ivocerckel@siquijor.ws

“The core notion that government has to take some steps to deal with a contracting global market place and that we should be promoting growth — that’s not in dispute,” Obama said at the news conference with Brown.
“On the regulatory side, this notion that somehow there are those who are pushing for regulation and those who are resisting regulation is belied by the facts,” he said. (1)

French President Nicolas Sarkozy and German Chancellor Angela Merkel said they were not happy with the draft proposals for the summit, and vowed to stand together to press for “non-negotiable” new global finance rules.
“Without new regulations there will be no confidence. And without confidence there will be no recovery. It’s a major aim, non-negotiable,” Sarkozy told reporters here, after an earlier threat to walk out of the summit. (1)

Nicolas Sarkozy, French president, and Angela Merkel, German chancellor, laid down explicit conditions for a deal, including tougher regulation of hedge funds, tax havens and bankers’ pay. (2)

Asked whether the U.S. dollar should remain the world’s leading reserve currency, Lagarde said: “I feel compelled to say that we need a strong dollar as has been said over and over. I think the whole issue needs to be debated. The role played by currencies vis a vis each other, the role played by massive reserves in various parts of the world.”
She said it was not being discussed on Thursday because it was not at the heart of the financial crisis. (3)

(1)
Can G20 deliver?
By Hiba Al-Qudsi
LONDON –  Thursday, 02 April 2009  -  06 Rabi Al-Thani 1430 H
http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentID=2009040233882

(2)
G20 leaders accused over toxic assets
By Chris Giles, George Parker and Gillian Tett in London
Published: April 1 2009 20:04 | Last updated: April 1 2009 23:33
http://www.ft.com/cms/s/0/0cbc2f74-1eea-11de-a748-00144feabdc0.html

(3)
INTERVIEW-France says separate currency summit might be needed
03.31.09, 12:01 PM EDT
G20/FRANCE-CURRENCIES (INTERVIEW) FOR 1600:INTERVIEW-France says separate currency summit might be needed
http://www.forbes.com/feeds/reuters/2009/03/31/2009-03-31T160156Z_01_LAE000017_RTRIDST_0_G20-FRANCE-CURRENCIES-INTERVIEW-FOR-1600.html