The MT Diary: 'Cher Tony' Wows Paris; Sarkozy Contemplates Grands Projets; Tensions in Euroland

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The French are not like us (you read it here first). While we and the Americans endlessly debate the relative merits of buying troubled assets or preference shares to bail out the banks, France is engaged in a full-on argument about the future of capitalism and the role of the state.

Nicolas Sarkozy hosted a two-day debate in the ecole Militaire on the theme of 'New World, New Capitalism'. All the stops were pulled out Sarkozy himself kicked things off, then Angela Merkel, followed by 'Cher Tony' - our very own Tony Blair. Shurely shome mishtake, I hear you say. Non. It was indeed the departed Great Leader. Our present Dear Leader seemed to be otherwise engaged on the domestic front.

First in French, then in English, with a bit of Franglais thrown in, he wowed the crowd. The correct French protocol is to …