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France is threatening G20 walkout

April 01, 2009 00:00:00


France will walk away from this week's G20 summit if its demands for stricter financial regulation are not met, the finance minister has told the BBC.
Christine Lagarde told HardTalk that President Sarkozy would not sign any agreement if he felt "the deliverables are not there".Strengthening financial regulation will be one of the key issues at the G20. France wants a stronger global financial regulator than the US and the UK would like.
If France were to leave the summit, it would be a blow to both UK Prime Minister Gordon Brown and US President Barack Obama.
World leaders will meet later this week in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit.
The G20 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US and the EU.
Both men have spoken of their high hopes for the meeting to stimulate international recovery.
"Leaders meeting in London must supply the oxygen of confidence to today's global economy and give people in all of our countries renewed hope for the future," Mr Brown said.
However, splits among other world leaders on how to tackle the economic crisis have also begun to emerge in other areas.

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