PARIS  President Nicolas Sarkozy of France tried to reassure citizens on Thursday that their savings and the nation’s economy were safe. While the global financial crisis will have serious consequences for the French economy, he said, bank deposits will be guaranteed and individual taxes will not be raised.

Mr. Sarkozy promised that the government would move ahead with its reforms, especially in shrinking the bloated state sector, and he called for an overhaul of the world’s financial system, arguing that an era of unregulated markets was over.

“A certain idea of globalization is dying with the end of a financial capitalism that had imposed its logic on the whole economy and contributed to perverting it,” he said.

“The idea of the all-powerful market that could not be contradicted by any rules, by any political intervention” was “a crazy idea,” he said. “The idea that the market is always right is a crazy idea.”