France urges EU to focus on regulating commodity derivatives

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France urged the European Union on Tuesday to work out common rules to prevent trading in financial derivative instruments from distorting markets for raw materials such as oil and farm products.

Three French ministers said in a letter to EU Internal Market and Services Commissioner Michel Barnier: "We feel it is desirable that a European initiative first define common principles for the regulation of derivatives of all raw materials and assimilated products."

© 2010 AFP

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