Around the World: France

New capitalism urged

French President Nicolas Sarkozy hit yesterday at financial speculators for having "perverted" capitalism, which he said should be overhauled with a new role for governments and moral values.

Speaking alongside German Chancellor Angela Merkel and former British Prime Minister Tony Blair at a conference on the future of global finances in Paris, Sarkozy criticized "an immoral system where the logic of the markets excuses everything, where money follows money."