Sarkozy in SWF U-turn

Nicolas Sarkozy, the French president, is having second thoughts about sovereign wealth funds. So much so that he is even suggesting that France should have one.

"There is no reason why France should not have a sovereign wealth fund," Sarkozy told reporters on Friday.

He added that the investment approach of Caisse des Depots et Consignations, a French state-owned investment fund used to finance public expenditures, could be brought into line with those of more aggressive and outward-orientate