Monetary coordination: Sarkozy calls China to play his role
He wants to make special drawing rights an element importing the reform of the international monetary system which he registered in the agenda of his mandate at the head of G20. And he hopes to see entering there shortly the Chinese yuan, beside the dollar, beside the euro, beside the pound and beside the yen.
With the online Chinese currency of test card, that he would like to see as quickly as possible including special drawing rights (or "DTS"), Nicolas Sarkozy sketched on Thursday in Nankin some tracks the reform of the international monetary system which appears in the menu of G20. "Isn't he time today, to agree about the calendar of the widening of the basket of DTS with new emergent currencies, as the yuan?", threw the head of state French front the Ministers of Finance, governors of central banks or professors of economy united in the Chinese imperial ex-capital.
"We must accompany the ineluctable internationalisation of the big worldwide currencies. It isn't a question of course of calling into question the distinguished role of the dollar and of the euro, who have to be stable currencies. But the internationalisation of other some currencies is already a reality: I think especially of the yuan", he estimated.
He wants to make special drawing rights an element importing the reform of the international monetary system which he registered in the agenda of his mandate at the head of G20. And he hopes to see entering there shortly the Chinese yuan, beside the dollar, beside the euro, beside the pound and beside the yen.
"We must accompany the ineluctable internationalisation of the big worldwide currencies. It isn't a question of course of calling into question the distinguished role of the dollar and of the euro, who have to be stable currencies. But the internationalisation of other some currencies is already a reality: I think especially of the yuan", he estimated.
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