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Growing calls for G20 perm sec

Wednesday 15 September 2010 - by Andrew Hickley

The French financial markets authority has thrown its support behind French President Nicolas Sarkozy’s proposal to hire a permanent secretariat for the G20.

In a speech at the French embassy in Washington last week, Autorité des Marchés Financiers chairman Jean-Pierre Jouyet stated that he was strongly in favour of the move, a view which has been echoed by other leading commentators in recent months.

He stated that it would allow the G20 to efficiently proceed with overseeing increasing obligations “in an organised and methodical manner”. France will be taking over the presidency of the G20 in January 2011.

Jouyet said: “As tiresome as it might be, the monitoring of commitments already made must be combined with the starting up of new projects such as the regulation of soft commodity markets.

“To enable the G20 to play this dual role, its authority must be strengthened with a permanent ad hoc structure, a secretariat.


“The structure would continually remind the Member States of their commitments, monitor all decisions in an organised and methodical manner, and coordinate throughout the year the work of the various institutions entrusted with following up certain recommendations.

“The President of France has made this proposal ahead of our presidency of the G20, and I totally endorse it.”


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