EU proposes tougher rules for financial markets

The European Union’s executive today proposed tougher curbs on financial market practices seen to have contributed to the global market crisis that drove the world’s largest economies into recession.

EU proposes tougher rules for financial markets

The European Union’s executive today proposed tougher curbs on financial market practices seen to have contributed to the global market crisis that drove the world’s largest economies into recession.

EU Services Commissioner Michel Barnier said today he wants to rein in the market for derivatives – financial instruments based on the value of other assets – and insisted regulators should have powers to restrict, and even ban, short selling.

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