Gödöllõ, 11/04/2011 (Agence Europe) - At the ECOFIN Council on the outskirts of Budapest on Saturday 9 April, the French economy minister, Christine Lagarde, said that mechanisms were required to properly regulate the commodity markets, meaning upper limits on investments to ensure that market makers cannot accumulate too much. France has made this issue one of its priorities for its holding of the G20 presidency.
Next month, European economy ministers will formally publish a conclusions document to get the tone for future legislation to increase transparency and reduce speculation on the commodity markets and raw materials futures markets (see EUROPE 10355). The Hungarian finance minister, György Matolcsy, said that the ministers had not gone into any detail, but was sure the EU would have a joint approach to defend at international level. (M.B./transl.fl)