Brown, Sarkozy to urge banks to disclose write-offs

(Agencies)
Updated: 2008-03-24 10:51

Brown, Sarkozy and the leaders of Germany and Italy met in London in January to discuss the financial crisis.

The highest profile victim of the crisis in Britain has been mortgage lender Northern Rock, which Brown's government was forced to nationalise.

The financial turmoil has damaged Brown's reputation for economic competence and helped the opposition Conservatives extend their opinion poll lead over Brown's Labour Party.

Sarkozy and Brown will repeat calls for credit rating agencies to be more transparent and for international financial institutions to be reformed to provide early warning of financial risks to the global economy.

The two men will call for reform of the United Nations Security Council to make it more representative, including permanent representation for Africa, Brown's office said.

Britain and France are among the five permanent members of the council.

Brown will talk to Sarkozy about a possible French contribution to a rapid reaction force of police, judges and administrators Britain plans to set up to help countries get back on their feet after conflicts, Brown's office said.

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