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Sarkozy, Brown unite on bankers' bonuses clamp ahead of G20

(Xinhua)
Updated: 2009-09-16 15:12

British Prime Minister Gordon Brown and French President Nicolas Sarkozy declared Tuesday that effective measures must be taken on financial supervision at the upcoming G20 summit, especially a policy for curbing bankers' bonuses.

Sarkozy and Brown told reporters after a working dinner at the Elysee presidential palace that more than a broad statement on principles, they wanted commitments on data and a schedule.

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Sarkozy said agreement should be reached in the Sept 24-25 meeting in Pittsburgh to end global discontent over US President Barack Obama's opposition to a cap on bankers' bonuses.

"I am convinced that there is sufficient common ground for us to reach an agreement at Pittsburgh," Brown said.

He said every country needed to obey the rules, otherwise the banking system would return to the situation before the financial crisis, which was unacceptable.

Earlier this month, Sarkozy, Brown and German Chancellor Angela Merkel urged all European Union countries to make a commitment on establishing a better financial system.
 
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