EU unveils its vision for global economic reform

EU unveils its vision for global economic reform

euobserver.com

EUOBSERVER / BRUSSELS - EU leaders have agreed on a set of principles that should guide future talks on the reform of the global financial architecture, urging for more regulation and transparency in the sector that has delivered the world's biggest economic crisis since the Great Depression of the 1930s.


PM Brown arriving at the summit. The UK wants more regulation of financial markets but not too much regulation. (Photo: The Council of the European Union)
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"No financial institution, no market segmentation and no jurisdiction must escape proportionate and adequate regulation or at least oversight," states the document adopted at an extraordinary summit on Friday (7 November).

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It seems Europe wants to make sure that no single country has the ability to side step this new global economic oreder, as they have refered to it. I wonder what the penalty will be for a disenting view on this? If its anything like how they typically handle obstruction, it will be harsh and swift.

euobserver.com
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