Global governance reform should reflect new balance: Sarkozy (2)

09:36, April 28, 2010      

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As to the economic reformation the Group of 20 was undertaking, Sarkozy urged to expand the global economic restructure, especially some international financial institutions.

On Sunday night, emerging countries and developing nations have increased their voting power in the World Bank by 3.13 percent from before, bringing the total for the developing world to 47.19 percent.

"These movements should be prolonged and amplified. This is only the first stage of the global reform," Sarkozy said.

Laying out elements like commodity prices and the international monetary system, which threaten today's global balance, the French President called for "open and constructive" discussions over these issues.

"I hope France's presidency of G8 and G20 in 2011 will present advancement on these questions," Sarkozy said, referring to the global reform in the financial sector.

Source: Xinhua
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