Sarkozy: Now, an economy that does not have sufficient debts is an economy that does not believe in the future...

The conservative lending practices of French banks has proven to be strength given the banking crises in the US, UK, Iceland and now Germany.

Moreover, short of a sea change, the future of the French economy will ultimately depend on the youth of the banlieues. And even the most uneducated, unenlightened and bigoted Frenchman can see that these youth possess none of the attributes necessary make that economic future one of growth and prosperity. So perhaps M. Sarkozy is correct.

Sarkozy: I hope to develop mortgage credits for families and to ensure that the State intervenes to guarantee access to credit for sick people. I propose that those whose salaries are modest be permitted to guarantee their loan through the value of their home. We must reform mortgage credits. If mortgages were easier to obtain, banks would focus less on the ability of the person to pay back his loan and more on the value of the property mortgaged. This would benefit directly all those whose revenues fluctuate, such as temporary employees and a great number of independent workers.

I suppose that M. Sarkozy is disappointed that French banks largely avoided the fates of their Anglo-American peers. Indeed, nothing would distract him more from deciding on Mme. Bruni-Sarkozy's makeup and wardrope than a queue of bankers - hats in hand - seeking Keynesian intervention.