Washington - French President Nicolas Sarkozy, current president of the European Union, Saturday praised European unity at the emergency financial summit in Washington.

"Europe stands together unified as if one person," Sarkozy told reporters in French. There were "absolutely no problems."

He called the adoption by the G20 of financial principles and commitment to tighter regulations in the future a "historic agreement" to reform the world finance system.

"We are entering a new world," Sarkozy said after the summit had ended.

Sarkozy signalled that the negotiations had been difficult.

"It was not easy," he said.

Many of the concessions by the United States would have been unthinkable just a short time ago, Sarkozy said.

He called US President George W Bush a "fair and loyal partner, but not always an easy one."

The G20 leaders have agreed that negotiators are to come up with concrete measures to carry out Saturday's agreement by the end of March and the leaders themselves are to meet again by April 30, which will be after US president-elect Barack Obama has taken office.

The next summit is to take place in London. (dpa)