DAVOS: Sarkozy: Globalization Got Out Of Control In Crisis

DAVOS: Sarkozy: Globalization Got Out Of Control In Crisis

DAVOS, Switzerland -(Dow Jones)- French President Nicolas Sarkozy Wednesday used his keynote address at the World Economic Forum to lash out at globalization, finance and speculation.

"This is not just a global crisis," Sarkozy told the assembled dignitaries from business and government. "This is a crisis in globalization, this is a crisis of globalization."

Sarkozy said finance, free trade and competition "are only means and not ends in themselves," but said the big question of the day isn't what to replace capitalism with, but how to develop a less antagonistic and conflictual form of it.

Web site: www.weforum.org

-By Geoffrey T. Smith, Dow Jones Newswire (+49 160) 743 4090; geoffrey.smith@dowjones.com

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(END) Dow Jones Newswires

January 27, 2010 12:28 ET (17:28 GMT)


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