EU Leaders Agree on financial Reform, Sarkozy

This news updete by topnews.in

Brussels - European Union leaders agreed Friday to a common position on reforming the global financial system, officials at an emergency EU summit in Brussels said.

"There is a pretty detailed common position from Europe," said French President Nicolas Sarkozy.

The proposals, drafted by the French presidency of the EU, call for global measures to strengthen controls over financial operators, harmonize accounting standards, make financial managers responsible, control rating agencies and strengthen international financial bodies such as the International Monetary Fund.

The proposals will be submitted to a meeting of world leaders in Washington on November 15.



Via nesw