Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-24-Speech-3-089"
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"en.20101124.7.3-089"2
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"Mr President, we could have any number of summits and meetings, but if Europe does not adopt a common offensive approach, it will carry no weight, and the next G20 will simply be a standoff between China and the United States, from which we shall inevitably emerge the losers. However, there is no shortage of issues.
While the euro area is experiencing its own difficulties, which require strong responses internally, the international monetary system is going through a very critical period, which is adding to our difficulties and creating competition for Europe that is as destabilising as it is unjust. That is the first point. The Europeans should table at the G20 plans for a new world monetary order that is based on a unit of account founded on a basket of currencies including, in particular, the dollar, the euro and the yuan.
Similarly, we shall have to revisit the issue of financial regulation. The commitments to fight against tax havens have still not been honoured in practice, and the activity of credit rating agencies has still not been controlled. This is all the more regrettable as there are other challenges, such as the regulation of the commodities markets: in fossils, minerals and agricultural produce. In this respect, I shall offer you a suggestion. I think that, on this issue, the Europeans should propose the setting up of a world commodities organisation.
Indeed, there is a real risk to the world economy with the shortages engineered by certain producer countries, and here I am thinking of China. Moreover, speculation on agricultural commodities is profoundly immoral as it adds to the hazards of climate change an additional risk of famine for developing countries.
On all these major issues, which clearly relate to the global balance, I believe one thing. I believe that the French Presidency will only be of real use if it is situated, from the outset, within a European framework."@en1
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