How Do You Like Me Now?

Okay. Obama's leaving for a big economic summit (the G-20) in London. The G-20 is a group of twenty western nations that meet periodically. Often the meetings are greeted with demonstrations (which sometimes get violent).

The problem this time is coming from inside. French President Nicolas Sarkozy (he's the head of state married to singer/model Carla Bruni) has his knickers all in a twist (as the Brits say). Seems that if he isn't assured that the conference will go his way, he's going to walk out.

“The crisis is too serious to have a summit for nothing,” Sarkozy told reporters today in Chatellerault, western France. The French president urged the G-20 to begin a reform of “global capitalism” and said the forces resisting his push for international regulation are “very strong.” Sarkozy wants to give more economic oversight power to the International Monetary Fund, and more financial oversight to an institution that would derive from the Financial Stability Forum, a group that brings together senior representatives of national financial authorities, regulators, central banks and international financial institutions.

Now I can guess what you're thinking. "So what else is new? Go take a hike, Jacques! Would you like an order of Freedom Fries with that?" (Am I right?)

But wait a minute. When Sarkozy was elected into office, he was known as "Sarkozy the American". He was very palsy with the Bush Administration, and he greatly admired the American business ethic. The French work work is, by law, 35 hours per week, and a great part of France takes the month of August off for vacation. (The American work week is forty hours, but most salaried employees nowadays work much more than that.)

Now, all of a sudden, he's into government regulation. Ah, mon dieu!