EU Finance Ministers’ meeting

Finance Ministers are expected to review their position on the Markets in Financial Instruments Directive (MiFID). Mandatory limits on speculation on commodity derivatives are necessary to limit harmful speculation on food commodities. Strong evidence suggests that a link exists between speculation by financial counter-parties and greater food price volatility and, in some cases, higher food prices. High and volatile food prices have had a devastating impact in poor and food import dependent countries, causing increased hunger, conflict and instability. Finance Ministers will also adopt conclusions on climate finance. A follow-up discussion on the G20 and the Spring Meetings of the World Bank Group and the IMF is also on the agenda.