Sarkozy demands new monetary world order

The United States needs to lead the way in imposing new global financial regulations — and to pay more attention to the rest of the world, according to French President Nicolas Sarkozy.

"You should reflect on what it means to be the world's No. 1 power," he said, during a speech at Columbia University.  "The world does not stop at the East Coast, the world does not stop at the West Coast. The world needs an open America, a generous America, an America that shows the way, an America that listens."

Saying "there is no single country in the 21st century that can run the world alone," he urged the United States to join Europe in "inventing the rules for the economy of tomorrow and added:"The dollar is not the only currency in the world.

"We should invent a new global monetary order,” he added, warning: "The world economic regulations cannot go on as they are. We can't accept a capitalist system without rules any more. Lack of rules will be the death of capitalism."

Sarkozy, who dined later with President Obama, was a difficult guest, lecturing the Americans also on their healthcare system. “When we look at the American debate on reforming health care, it's difficult to believe,” he sneered. “The very fact that there should have been such a violent debate simply on the fact that the poorest of Americans should not be left out in the streets without a cent to look after them.

"Welcome to the club of countries that does not dump its sick people," Sarkozy said. “You can't let people simply die. If you come to France and something happens to you, you won't be asked for your credit card before you're rushed to the hospital."