France to Seek G20 Global Monetary Overhaul

(Via Reuters)

France will start talks on overhauling the global monetary system during its G20 presidency to improve policy coordination and stem capital flows distorting exchange rates, Economy Minister Christine Lagarde said on Thursday.

France will take over the chair of the Group of 20 biggest developed and developing economies in November for the next 12 months at a time when many countries want to prevent their currencies from strengthening in order to help economic recovery.

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