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Google executive scolds G8 leaders who seek to regulate Internet

Top officials of rivals Google (GOOG) and Facebook took a break from going after one-another and re-directed their collective energies to giving Internet freedom lessons to leaders of the globe's wealthiest democracies, the Financial Times reports .

Hosted by French president Nicolas Sarkozy, the summit in the Northern France commune of Deauville features a plenary that aims to bring order to the world wide web. During the G8 summit earlier in the week in Paris, Sarkozy spoke of an interest in reeling in the "anarchy" of the Internet and Thursday's event by the English Channel represented the first time the technological sector was included.

"The industry as a whole is concerned that premature regulation … can shut off whole new industries, whole new opportunities, whole new innovations," executive chairman Eric Schmidt said.

The leaders of the U.S., Britain, Germany, Japan, Russia, Canada and Italy are joining the French premier at the two-day summit that also aims to discuss global economic issues, the Associated Press reports . Also in attendance is Mark Zuckerburg, president and founder of Facebook, and leaders and representatives of French and Japanese online services.

Leaders from the Arab League, Egypt and Tunisia also are at the summit as demonstrations organized via the Internet sacked both nations' long-time autocratic rulers earlier this year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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