President Sarkozy has called European leaders to Paris tomorrow to discuss what everyone is fatalistically calling the global financial crisis. But it is not a world financial crisis, is it? It would be more accurate to describe it as a crisis of what the French used to call, with a contemptuous Gallic shrug, the "Anglo-Saxon model". This is the high-salary, low-tax, easy-credit model that has now been exposed for the con it always was. The Continental Europeans - and they could be forgiven for pointing this out at the very top of their communiqué - ran their economies according to a very...
photo: AP / Francois Mori
