Obama meets Brown amid signs of G20 tension

Apr 1, 2009, 11:43 GMT

Britain\'s Prime Minister Gordon Brown (L) and US President Barack Obama shake hands following a press conference at the Foreign and Commonwealth Office in London, Britain, on 01 April 2009. EPA/ANTHONY DEVLIN / POOL

London - US President Barack Obama met British Prime Minister Gordon Brown for breakfast talks in London Wednesday amid signs of tensions ahead of the summit of Group of 20 (G20) leaders.

Obama and his wife, Michelle, arrived at Downing Street on a bright and sunny morning Wednesday as police were preparing for massive demonstrations by anti-globalization protestors.

Meanwhile, French President Nicolas Sarkozy, who has reportedly threatened to 'walk out' of the summit if Franco-German demands on tighter regulation are not met, reiterated that he wanted the summit to produce 'concrete results' to sanction uncooperative tax havens.

'It is unacceptable and incomprehensible if concrete regulations cannot be applied in the coming days or weeks' to offshore tax havens that do not share information about their accounts, Sarkozy told Europe 1 radio.

He said that France wanted that 'one or several lists of uncooperative tax havens' be drawn up and made public and that, as a result, banks all over the world refuse to do business with countries that protect their tax havens.

Sarkozy said he had spoken with German Chancellor Angela Merkel late Tuesday and that both leaders were 'on the same wavelength' on the issue.

The two leaders are scheduled to hold a joint press conference in London later Wednesday.

'I will not associate myself with a summit that concludes with a statement of false compromises, which does not deal with the problems that confront us,' Sarkozy said.

But he did not repeat a declaration he had reportedly made last month that he would walk out of the summit if it was not producing concrete results.

The summit of the leaders of the G20 major industrialized countries and emerging economies is to open with a reception at Buckingham Palace and a working dinner in Downing Street, the office and residence of Brown.

Michelle Obama and Sarah Brown, the wife of the British leader, held a separate fireside chat in Downing Street as their husbands were holding political discussions early Wednesday.

Tens of thousands of demonstrators were gathering in London Wednesday to protest against globalization, poverty and climate change amid heavy security.

Bankers in the City of London have been advised to 'dress down' for the day as landmark buildings, shops and hotels have been boarded up in preparation for the protest.