EU executive arm proposes overhaul of financial rules

03/5/2009 | Reuters

The financial crisis prompted the EU's executive arm to propose measures to make financial institutions and markets less risky. "We must send a strong signal to our citizens, businesses and the global community that there is a way out of this crisis," European Commission President Jose Manuel Barroso said. The measures include increased transparency in derivatives markets, streamlined supervision and tougher capital rules for banks.

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