The French ambassador in Montevideo, Jean Christophe Potton said that when President Nicholas Sarkozy named Uruguay and ten other countries as ‘fiscal havens’, which could be isolated from the International community, he was speaking in representation of the G20 countries summit in Cannes.
The Panamanian government “categorically” rejected Saturday French President Nicolas Sarkozy's “unfair” and “offensive” characterization of the country as a tax haven. “Panama is not a tax haven,” said Panamanian President Ricardo Martinelli.
The G20, composed of the world's most powerful economies, come up Friday with an action plan to save the world economic and stabilize the global monetary system, according to an official statement from the Group of 20. The continuing Euro zone debt crisis has dominated the summit.
President Barack Obama recommended his French counterpart, Nicolas Sarkozy to follow the example set by Argentine President Cristina Fernández, who was re-elected in a landslide win just ten days ago.
During Thursday’s meetings of the Group of 20 in Cannes, Argentine President Cristina Fernández for G20 leaders to put a stop to the current “anarchistic economic capitalism” and regulate the markets, not the countries, to go back to what she referred to as “real capitalism” after three years of world economic crisis.
Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the Euro zone, the leaders of France and Germany said on Wednesday.
Germany and France told Greece on Wednesday it should make up its mind by mid-December whether it wants to stay in the Euro zone when Greeks vote on a 130-billion-Euro bailout.
Germany's Angela Merkel and France's Nicolas Sarkozy are “determined” to implement the EU bailout plan for Greece. That was the outcome of an emergency phone call between the two chiefs of state ahead of a G20 summit Wednesday.
French President Nicolas Sarkozy has said allowing Greece into the Euro zone in 2001 was a mistake. He said Greece was not ready at the time, but he added, it could be rescued thanks to Wednesday's EU deal on the euro debt crisis
European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.