The suggestions are not new. The current permanent members, who have the power of veto over any Security Council resolution, are the World War II victors: China, Russia, the US, France and Britain. Other large contributors to the UN including Japan and European countries are pushing for equal clout.

Sarkozy questioned the continuing dominant role of the US dollar as the global currency.

'The world cannot continue to use just one currency' as its common denominator, he said.

Most of international commerce is calculated in US dollars, and the dollar dominates international financial markets.