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"The all-powerful market that always knows best is finished," says France's president (Photo: European Parliament - Audiovisual Unit)

'Laissez-faire' capitalism is finished, says France

Both France and Germany on Thursday (25 September) said the current financial crisis would leave important marks on the world economy, with French president Nicolas Sarkozy declaring that the under-regulated system we once knew is now "finished," and German finance minister Peer Steinbruck saying the crisis marks the beginning of a multi-polar world, where the US is no longer a superpower.

Speaking to an audience of some 4,000 supporters in Toulon, France, Mr Sarkozy said the financial ...

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"The all-powerful market that always knows best is finished," says France's president (Photo: European Parliament - Audiovisual Unit)

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