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Sarko, Merkel for new capitalism
Published on 11 Jan. 2009 12:51 AM IST
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The leaders of France and Germany appeared to put disagreements over economic policy behind them on Thursday, calling on the US to join global efforts to address the financial crisis. French president Nicolas Sarkozy, leading a two-day conference with ex-British PM Tony Blair on the future of capitalism, said the crisis has shown that no country can go it alone on economic policy. German chancellor Angela Merkel said the system "cannot continue as it is" and called for better-regulated financial markets. She said the International Monetary Fund has not managed to regulate global capitalism, and called for the creation of an economy body at the United Nations, similar to the Security Council, to judge government policy.

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