国际英语新闻：Sarkozy wants to forge new monetary system during G20 presidency

PARIS, Dec. 13 (Xinhua) -- French President Nicolas Sarkozy on Monday once again called for the introduction of a new international monetary system that can cope with the financial crisis, saying the issue will be high on agenda during France's G20 presidency.

In a speech marking the 50th anniversary of the Paris-based Organization for Economic Cooperation and Development (OECD), Sarkozy reiterated that reforming the global monetary system and monitoring commodities prices fluctuation are among issues of top priority during France's G20 presidency.

"We must think on the relevance of a model based on the accumulation of dollar reserves. I ask: Does this system not make some parts of the world dependent on U.S. monetary policy? Shouldn 't we consider the role of the Special Drawing Rights (SDR) and internationalization of other currencies?" said the French president.

Sarkozy said it is time to think about new policies which take into account the key role of emerging powers in guaranteeing the global financial stability without affecting the dollar.

"I do not want in any way undermine the role of the dollar, which in any case will be a prominent part, but prominent does not mean exclusive ...," Sarkozy said.

"Our monetary organization can not continue reflecting the world of yesterday in which neither India nor China nor Brazil had become the economic powers as they are today," he stressed.

Sarkozy also stressed the need for the G20 to find effective ways to fight the fluctuation of commodity prices, notably those of farming goods.

"Our second priority will be the price stability of raw materials and agricultural products. We need ... to regulate the commodity derivatives. We must increase the transparency of physical markets and encourage dialogue between producers and consumers," he said.