EU plans market reforms to avert crisis

By Tony Barber in Luxembourg, Guido Bohsem in Berlin and Mark Schieritz in Frankfurt
Financial Times

October 8, 2007

European nations are to draw up radical proposals to improve transparency in financial markets and to change the way credit rating agencies operate in an attempt to prevent any recurrence of the financial turmoil arising from the credit squeeze. All G7 members have agreed reforms are needed, including the US, which had formerly resisted joint action… more