Enhanced regulation of financial markets moves closer

IT was full steam ahead in Berlin yesterday with plans for the EU to regulate every aspect of the financial markets despite another day of nosediving figures for the euro and stocks.

German Chancellor Angela Merkel told an international conference on market regulation she intends to pursue her drive to tighten control of the markets through the G20.

Internal Market Commissioner Michel Barnier promised to present all the proposals necessary to meet their G20 commitments by next spring at the latest so they can be implemented by the end of 2012.