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10/18/08

AFP: US plays down Bush-Sarkozy-Barroso summit and blocks EU proposal to create new world economic order

AFP: US plays down Bush-Sarkozy-Barroso summit and blocks EU proposal to create new world economic order

Sarkozy, joined by European Commission chief Jose Manuel Barroso, heads to the storied US presidential retreat armed with a mandate from his EU colleagues to push for a top-to-bottom revamp of the world's financial system. But the White House has preemptively declared that the talks will yield no new policy proposals, and no date or location for a world leaders summit that the French leader hopes will generate sweeping reforms. "I don't believe that tomorrow night's meeting will have any new policy announcements or any decision on a date or a location for that meeting -- although everybody is working towards that," said spokeswoman Dana Perino."There's a lot of things to work through and we'll find a date; that won't be -- that's the least of our worries, is finding a date," said Perino, who poured cold water on Sarkozy's call for a wholly new economic framework.

Sarkozy on Thursday renewed his call for a wide-ranging summit "before the end of the year" -- something the White House now supports -- while warning that reforms cannot wait for Bush's successor to take office in January.

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