Sarkozy Seeks To Regulate Capital Flows |
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January 24, 2011
Nicolas Sarkozy, French president, called for a code of conduct to regulate international capital flows on Monday amid warnings that the money pouring into emerging economies would grow again in 2011, exacerbating tensions seen last year in the international financial system.
Nicolas Sarkozy, French president, called for a code of conduct to regulate international capital flows on Monday amid warnings that the money pouring into emerging economies would grow again in 2011, exacerbating tensions seen last year in the international financial system.
Setting out France's ambitions for its presidency of the Group of 20 leading nations this year, Mr Sarkozy said it was imperative that the biggest economies deal with the question of volatile capital flows and global imbalances if crises were to be avoided.
By the G20 summit in November, the French president hopes a code of conduct will limit capital flows and the world economy will be on a path towards reducing the large US trade deficit and associated surpluses in China, Japan, Germany and oil exporting countries.
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