President Nicolas Sarkozy is set to propose a new security and economic relationship between Europe and Russia during his meeting with the Russian President along with German Chancellor Angela Merkel in Deauville this month. The president aims to bring Russia closer to EU to form a single zone of security and economic cooperation, according to some officials. Sarkozy believes the relationship will be apart from the North Atlantic Treaty Organization.
France will take over the presidency of the Group of 20 in November during which Mr. Sarkozy plans some initiative that aims to transform the group to a platform for major economies to focus on long term coordination. The president has been carrying out discussions with the officials in China about issue relating to exchange rate. Mr. Sarkozy plans a new monetary system for the world including a new body to monitor movement of currencies.
American officials are skeptical over plans to discuss the security issues with Russia without the presence of the US. They say they will oppose any move to dilute the importance of NATO however will bring Russia closer to the alliance.
For more: Sarkozy to propose security and economic between Europe and Russia | French Tribune
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