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EU urged to speed up financial regulation

Posted by seumasach on June 10, 2010


9th June, 2010

France and Germany put on a show of unity on Wednesday to urge European Union leaders to accelerate efforts to tighten financial regulation and clamp down on short selling.

In a joint letter to José Manuel Barroso, president of the European Commission, Nicolas Sarkozy, the French president, and Angela Merkel, the German chancellor, called for proposals within a month to regulate trading in sovereign credit default swaps – a form of insurance against government debt default – and short selling.

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