France, Brazil to propose system of world governance

April 1st, 2009 - 11:34 pm ICT by IANS  

Paris, April 1 (DPA) French President Nicolas Sarkozy and his Brazilian counterpart Luiz Inacio Lula da Silva said Wednesday that their countries were preparing a proposal for a new world governance to prevent future economic crises caused by a lack of regulation.
“We want (at least) a minimum of regulation in the face of the disaster that has been caused by total deregulation,” Sarkozy told journalists in Paris after a meeting with Lula just hours before the two were to travel on to London for the G20 summit.

The proposal will be a “joint contribution”, Sarkozy said, to be prepared and presented by the foreign ministries of the two countries.

Lula said that the current crisis was “the result of a lack of governance, a lack of responsibility”.

The Brazilian president also said that the task of politicians was “to restore credit in the world. Only this will restore confidence to consumers in the world”.

But he cautioned that the G20 summit will not be easy.

“The meeting will be a meeting of friends, but a difficult meeting, because all the friends do not necessarily think the same way,” he said.

A successful result, Lula said, would be to leave the summit with “at least one proposition that would encourage the millions of human beings who expect… us to take measures that will lead them to believe that, in a few days, the economy will find its normal way again, and that they will find work, and have the means to eat and to dress themselves.”

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