Sarkozy, Obama push for financial crisis solution - WAOW - Newsline 9, Wausau News, Weather, Sports

Sarkozy, Obama push for financial crisis solution


CANNES, France (AP) -- French President Nicolas Sarkozy says he and the U.S. president agree that businesses should contribute to resolving the global financial crisis.

Sarkozy said after meeting with Barack Obama in Cannes that the pair "found a common analysis to make the financial world contribute" to finding a solution.  He did not elaborate, but said he welcomed Obama's "understanding on subjects such as a tax on financial activities."

Sarkozy and some others in Europe have been pushing for a small tax on all financial transactions that could be used to help poor nations and reduce debts.

The Obama administration and several leading economists are cool to the idea, favoring instead fees on the biggest banks.

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