Statement on the Address by President Nicolas Sarkozy before the European Commission's Conference on Commodities and Raw Materials, Brussels

Commissioner Bart Chilton

June 14, 2011

"I commend President Sarkozy, not only for his leadership, but for his thoughtful understanding of the circumstances in which we find ourselves.  The President got it exactly right when he spoke about the need for thoughtful regulations to address excessive speculation and the need to harmonize regulations.  Appropriate speculative limits need to be instituted as soon as possible.  I also completely agree on the need to avoid regulatory arbitrage where markets could migrate to the least regulation nation.  We need to avoid a regulatory sidewalk sale and work together for harmonized rules that make markets more transparent and more competitive."

Last Updated: June 14, 2011