France – World Economy: 0.75
France has been assigned a score of 0.75 in its world economy objective. The G8 leaders joined the G20 in Toronto to discuss issues pertaining to international finance. Block 3 and Annex 2 of the Leaders’ Statement see the G20 agree on financial sector reform, including regulatory and supervisory measures for the banking system. The leaders agreed on an agenda for improving capital and liquidity strength and raising capital requirements in order to discourage excessive leverage by banks. While countries were given the choice of whether they wish to implement a bank tax or not, the leaders agreed on a framework of expansive supervision of financial institutions by the Financial Security Board in cooperation with the IMF.
No commitments were made in what concerns the Greek debt crisis; therefore France receives a score of 0.75.