ILO jobs summit

The presidents of France and Brazil sharply criticised the international handling of the financial crisis. Both leaders urged more global regulation of the world economy and a more equitable future.

French President Nicolas Sarkozy appealed for a stronger regulatory role for institutions like the ILO. "Regulation of globalisation is the central issue," Sarkozy told labor, employer and government representatives from 183 states. "The ILO must have its word to say with the WTO (World Trade Organisation), the IMF (International Monetary Fund) and the World Bank," he added.

"There cannot be freedom and liberty without rules," the French leader went on to say, warning that believing the global economic crisis was temporary and the markets would correct themselves was a "suicidal analysis."

Call for a new international order that rewards production, not speculation

Brazil's President Luiz Inacio Lula da Silva called for a crackdown on financial speculation and tax havens.

"We realise that this crisis demands a tougher attitude from workers, leaders and employers, we cannot live with tax havens," Lula told delegates. Both France and Brazil are members of the G20 Group of major industrialised powers and emerging economies that are cooperating to tackle the financial crisis.

This year's three-day ILO summit marks the UN body's 90th anniversary and is the largest in the organization's history.

db/dpa/AFP

Editor: Susan Houlton