Mercury Rising 鳯女

Politics, life, and other things that matter

What Was That Again About Foreign Leaders Pushing Around Obama?

Posted by Phoenix Woman on April 2, 2009

I think that particular meme just got shot down — Obama just pulled off one heck of a negotiation and kept both China and France (not to mention Germany) from walking away from the table:

France and other European nations have been pushing for rules and regulations to apply to various tax havens; Germany’s Finance Minister Peer Steinbrueck has said “these tax havens are also places where unregulated financial market deals are made.”

But Chinese leaders fear a crackdown would hurt banking centers in Macao, Shanghai and Hong Kong. Other countries agree, though they are less outspoken publicly.

The exchange between Sarkozy and Hu got so heated, said a source — who is not a member of the Obama administration — it was threatening the unity of the G-20 leaders’ meeting.

Obama first pulled aside Sarkozy and discussed possible compromises; then he did the same for Hu; then he brought both men together to work out the final deal. It’s not 100% of what either guy wanted, but it’s a good starting point. Something similar could be said for the conference as a whole. There will be another G-20 later on this year; we’ll see what gets addressed then

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