WASHINGTON, Nov 3 (Reuters) - The Group of 20 nations should agree to implement regulatory changes to avoid loopholes in financial regulations, the president of the European Commission told Reuters Television on Tuesday.
"It is important to avoid gaps in terms of regulation and supervision," Jose Manuel Barroso said in an interview, when asked what he hoped to see emerge from a meeting of G20 finance officials and central bankers this weekend.
"It's very important that the basic principles agreed in London and in Pittsburgh at the G20 are now translated in real binding legislation in our countries to avoid loopholes and to avoid this kind of negative inconsistencies between the systems of supervision and regulation," he said.
Barroso declined comment on whether he shared concerns about the strength of the Euro compared to the U.S. dollar.
"We are in favor of dialogue in terms of macroeconomic coordination because you have seen during this crisis that economies are interdependent, including the big emerging economies," Barroso said.
"Certainly we encourage this kind of dialogue, but we don't think it is up to some ministers of finance to decide on the concrete exchange rates of major currencies." (Reporting by Roberta Rampton and Lucia Mutikani, editing by Vicki Allen)