Sarko: We’re moving beyond ‘the Anglo-Saxon model’

He’s of course talking about the Anglo-Saxon financial model, which a combination of old-school business conservatives and neolibs getting yet another Democratic presidential administration home still try to foist on the rest of the world.

“He” is French President Nicolas Sarkozy, who said, “a page has been turned” on financial regulation and related issues at the G20 summit.

Now, some neolibs, and with better standing, a few non-neo liberals, will say Sarko is “just posturing.”

Is there some degree of posturing in his statement? Sure.

But, “just” posturing? Wrong.

That said, Sarko said the deal wasn’t perfect. He wanted tighter regulation on securitization issues.

THAT said, with something on the books, and the Eurozone still the world’s largest economy (see poll at right on homepage), an opening wedge on this issue can now be further developed in one segment, at least, of the global economy.

More on Sarko’s take on the G20 from the Wall Street Journal.

“Controlling hedge funds doesn't create a job in the French textile industry...but this turns the page of the madness of all those years of deregulation,” he said. “This is without precedent.”

And, pushed by Sarko, the G20 has asked the Organization for Economic Cooperation and Development to publish a list of tax havens; Sarko said he expects that list to be released at any time. And, with help from President Obama, he apparently got China, not an OECD member, to go along, at least for public consumption.