French president urges business to help fight terrorism

DAVOS, Switzerland — French President Francois Hollande appealed to what he called "the lifeblood of the economic world" at the World Economic Forum's annual meeting Friday to be "watchful and get involved" with efforts to combat a range of pressing issues from terrorism to climate change.

In particular, Hollande singled out technology companies, saying they need to do more to help governments reduce the threat from extremists in the wake of the recent attacks in Paris that killed 17 people.

"The sources of terrorism cannot go unnamed," Hollande said, referring to groups such as the Islamic State and al-Qaeda.

Terrorism fuels itself by way of illicit flows of drugs, money and people, Hollande added. "Terrorists are also using the Internet as a weapon of indoctrination, manipulation and confusion," he said.

The French president urged the financial world to do more to close down any avenues to trafficking and money laundering used by terrorists.

"I call on the financial system to ensure that the sources of terrorist funding are dried up. That we fight tax evasion and money-laundering," he said. "Don't leave it too late."

He added he would "tell big companies they must live up to their responsibilities."

Hollande said the fight against terrorism needs to be a global effort, and that both states and companies should be involved. He said France would take a leading role in that fight, a vow he has previously expressed.

"France will always be present. Whenever it can act, it will," he said.

Hollande's speech in Switzerland — two weeks after the terror attacks in Paris on the satirical magazine Charlie Hebdo and at a Jewish kosher supermarket — comes at a time when other world leaders, including President Obama and British Prime Minister David Cameron, have urged Silicon Valley to make sure that the Internet does not allow safe spaces for terrorists to communicate.

Cameron warned recently that the Internet should not be an "ungoverned space" and that more needs to be done to prevent radical Islamists from using digital networks to spread propaganda.

Secretary of State John Kerry was also in Davos on Friday. Speaking on stage he said violent extremism won't be stopped if we don't understand what's causing it. "We can't change minds without knowing what's in them," he said.

Kerry said extremist groups would be prevented from from expanding only if a comprehensive and long-term approach was adopted. He said military force was only part of the solution.

"This fight will not be decided on the battlefield, but in the classrooms, workplaces, places of worship of the world," he said.

Hollande began his wide-ranging address by saying that the attacks in Paris were an assault on the "very foundation of our society."

His speech touched on recent monetary policy action by the European Central Bank in the form of a massive bond-buying program — which he welcomed — as well as Paris' commitment to structural reforms to boost economic growth.

For years, the French economy has struggled to overcome a rigid labor market supported by aggressive regulations. Hollande said that France was aware of what needed to be done to make the country more competitive.

Ahead of the climate negotiations in Paris in December, the French president said it was crucial that the financial community make plans to invest heavily in green technology, which is key to sparking economic growth.