French joy at defeat of Anglo-Saxon model provocative

Lloyd’s chairman Lord Levene of Portsoken wants government action to halt the influence of newly appointed Frenchman Michel Barnier as Commissioner for EU Markets, the Times reports.

France’s President Sarkozy said a French commissioner in charge of EU markets would help continental economic ideals to prevail over the discredited Anglo-Saxon model. In a speech in France the President blamed the reputedly free-wheeling Anglo-Saxon model for the global economic downturn.

While others in the City reacted with alarm, Lord Levene said: “That’s today’s quotation. There will be another one tomorrow. I can’t get too excited about it. I think what we should do is to get our highest representative to intervene on our behalf. You know what politicians are like — good for a quote.”

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