RIO DE JANEIRO - FRANCE President Nicolas Sarkozy told Brazilian newspaper O Globo in an interview published on Sunday that global leaders need to press further for tighter banking and financial regulation after the credit crunch that sent the world into recession last year.

Issues from plans to increase disclosure in the murky oil market to giving emerging markets more voice in global economic policymaking and streamlining corporate pay will be discussed at a summit of world leaders Sept 24 to 25 in Pittsburgh, Pennsylvania.

In Pittsburgh, Mr Sarkozy will seek to drum up support for proposals to cut back on pay for financial executives and make more stringent corporate accounting rules, he told O Globo in an interview by e-mail.

'Those who believe that things will be the same once the crisis ends are quite wrong,' Mr Sarkozy told the Rio de Janeiro-based newspaper.

'We want to rebuild a more regulated capitalism in which banks fulfill their mission, that is, fund economic development,' he added.

Mr Sarkozy told Globo that by 2011 the G-8 group of countries will be replaced with a broader group that includes Brazil, Egypt, South Africa, Russia, China, India and Mexico.

Mr Sarkozy starts an official visit to Brazil on Sunday and plans to take part in the celebrations of Brazil's Independence day on Sept 7. -- REUTERS