France wants to find collective solutions to reduce the excessive volatility of commodity prices during its G 20 presidency, President Nicolas Sarkozy said Monday, quoted by RTT news. Sarkozy said the French presidency will ensure the effective implementation of rules decided by the G 20 to strengthen the financial sector supervision. It will also work to strengthen financial regulation in areas, such as the commodity markets, where it remains insufficient. Also, he noted that the French presidency wants to reform the international monetary system to provide collective responses to the failures and accompanying profound changes in the global economy. Sarkozy called for common rules to regulate commodities, stressing there was no reason to regulate financial markets and not commodities, and rejecting accusations of interventionism.
