Sources: Obama Plays Peacemaker in French-Chinese Smackdown Over Tax Havens - Political Punch

Sources: Obama Plays Peacemaker in French-Chinese Smackdown Over Tax Havens - Political Punch:

"But Mr. Obama, according to this account, stepped between the two men, urging them to try to find consensus, and giving them a 'pep talk' about the importance of working together.


The senior adminstration official said that Mr. Obama pulled Mr. Sarkozy aside, took him to a corner, 'and discussed possible alternatives,' the senior official said.


Once they arrived at one, President Obama 'sent a message to the Chinese' that a counter-offer was on the table. The Chinese spent some time considering the offer. But they took a few minutes.


So Mr. Obama, with the assistance of translators, suggested that he and Mr. Hu have a conversation as well. They, too went to the corner to talk. After a few minutes, Mr. Obama called upon Mr. Sarkozy to join them.

'Translators and sherpas in tow, they reached an agreement,' the official said. 'There was a multiple shaking of hands.'

The agreement: the final G-20 document would state that the G-20 nations 'stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over. We note that the OECD has today published a list of countries assessed by the Global Forum against the international standard for exchange of tax information.'"