Re orm o the international monetary system
or the rench President Nicolas Sarkozy, "there is more than monetary system since 1971". So, it is no issue to a large o erhaul as at Bretton Woods in 1944. This will be a long process. The rance does not wish to return to a ixed exchange rate system, nor to question the supremacy o the dollar, nor it is a ourable to the establishment o a control o the capital. The calendar is loaded. A meeting o inance Ministers o the g-20 will be held in Paris, ebruary 18 and 19. In the ollowing month, these same ministers will be in China or a seminar de oted entirely to this re orm o the international monetary system be ore ind themsel es, in April, Washington, on the margins o the meetings o the international monetary und (IM ) and the World Bank. The German Chancellor, Angela Merkel, accompanied by his Mexican counterpart, elipe Calderon, ha e agreed to chair a working group on the subject. Their report will be presented at the Summit o the g-20 in Cannes next No ember. Concretely, the objecti es o the rance are designed taking account o the emergence o new currencies on the international scene, the image o the yuan, and reduce the olatility o currencies between them. In terms o oreign currency reser e o central banks, the emergence o coins side to support the dollar is desired.
Regulation o markets o raw materials
The current prices o raw materials beyond light o their 2008 peak, not only could trigger riots o hunger, but posed a risk to economic reco ery, according to the President. Here again, the goals are ambitious while the rench Presidency o the G20 host, probably towards the end o June, a G20 Ministers o Agriculture in Paris. The World Bank, AO and IM will closely associated work to impro e the unctioning o markets o agricultural raw materials. In particular, Nicolas Sarkozy wants to promote greater transparency in the physical markets by the establishment o common databases. The image o what has been done on the oil market, a dialogue between large producer countries, importing countries and major trading companies should be introduced. Price Russian President Dimitri Med ede , is going to in est speci ically in the question o the olatility o des président président Med ede Med ede , will s' s' particulièrement question des particulièrement question des des. A report was commissioned to Pierre Jacquet, Chie Economist o the rench De elopment Agency, on new inancial instruments o insurance or the poorest countries. inally, we must reduce the in luence o speculation on agricultural products. There must be regulation o these markets. Are co ered in particular so-called markets at will, where the opacity rule because products are not traded on a centralized plat orm.
The commitment o Copenhagen, in 2009, 100 billion dollars a year to poor countries aces budgetary problems o rich countries. There ore, inding inno ati e inancing. The rance is a ourable to the establishment o a tax on inancial transactions which ound a a ourable echo o the side o the Germany and Tokyo. All the other ideas that will be put on the table are welcome. Whether it's a tax on kerosene rom airplanes, a tax on the container or a tax on air tickets. Paris is pragmatic and join to the proposals that will collect the most otes.
Employment, social standards support
The rance wishes to the establishment o a uni ersal social protection stand at the international le el, while arguing or gi ing more weight to the International Labour O ice (ILO) in global go ernance. Nicolas Sarkozy stated that "the rance not resigned himsel to that eight con entions o the International Labour Organization on the undamental rights o labour are not rati ied by all Member G20". The social partners will be closely associated with the work o the g-20. Thus, or the irst time, a social Summit will be held on the e e o the Summit o the heads o State o g-20 in Cannes. The Ministers o labour and employment take place end o September their own g-20.
Global go ernance
The re orm o the IM and the World Bank is in progress. The Council o the international inancial regulation, inancial stability, was created. But there is much to do, such as the creation o a world Organization o the en ironment or a global organization o agriculture. The architecture o global go ernance must be re amped. British Prime Minister Da id Cameron will be responsible or working on this aspect.