EU plans market reforms to avert crisis / EU roadmap aims to avoid turmoil in markets

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Series Details 9.10.07
Publication Date 09/10/2007
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EU 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 during the summer and autumn of 2007.

European Union finance ministers agreed at an ECOFIN Council, Luxembourg, 10 October 2007, a roadmap to protect financial markets against future turmoil by establishing new guidelines on transparency, valuation standards and risk management.

Related Links
Council of the European Union: Press Release: PRES/07/217: Ecofin Council, Luxembourg, 9.10.07 http://www.consilium.europa.eu/ueDocs/cms_Data/docs/pressData/en/ecofin/96375.pdf

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