Sarkozy lashes out at city traders and bank bonuses

President Nicolas Sarkozy launched a stinging attack on City traders and ruled out bonuses for managers of French banks bailed out by state funds as he sought to reassure the nation reeling from nationwide strikes sparked by the global economic crisis.

Mr Sarkozy proposed a panoply of investment measures, tax cuts, profit sharing and an increase in short-term unemployment benefits during a 90-minute live session with journalists on national television last night.