InfoAnda - EU struggles to put G20 reform drive into practice

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Russia to build 12 fighter jets for Vietnam: reports | 15 May 2009
China to expand registration rules for microblog users | | 18 January 2012
L.A. blogger sentenced for Guns N' Roses leak | Entertainment | | 15 July 2009

Gervais says NBC wants him to host Globes again | | 2 February 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : EU struggles to put G20 reform drive into practice

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: EU struggles to put G20 reform drive into practice AFP - Sunday, April 5 PRAGUE (AFP) - - Just days after the landmark G20 summit on the global economy, European finance chiefs struggled on Saturday to put into practice promises to overhaul the embattled financial sector. ADVERTISEMENT Efforts by EU finance ministers and central bankers to push for tighter European oversight of the financial sector ran up against stiff resistance mainly from Britain, eager to protect its vast banking industry. International unity on tightening financial regulation, which was much vaunted at Thursday's G20 summit in London, was also put to the test with the European ministers deeply troubled at a meeting in Prague over a recent US move to relax accounting standards. The EU ministers' new drive to improve Europe's hodge-podge of supervisory bodies overseeing their financial sector was clouded by British reservations about just how far the shake-up should go. The ministers broadly agreed to push ahead with recommendations from a high-level panel headed by former IMF chief Jacques de La Rosiere, which has called for a new early warning watchdog that would be chaired by the European Central Bank. French Finance Minister Christine Lagarde said Britain, which does not use the euro and has its own central bank, had expressed reserves about a group headed by the European Central Bank "as if the ECB were only a eurozone body." "We have to find a joint solution because we can't leave London out of the system. London's role in finance is too big," she said. European Central Bank chief Jean-Claude Trichet also sought to allay British concerns, insisting all EU central banks would have their say at the new risk watchdog. "I insisted on the need to be clear about the fact that the new risk council would not only be the eurosystem but the system of all the European central banks ... including those that are not members of the eurozone," he said. However, there were also reservations among other countries about whether planned centralised networks of supervisors that will oversee individual banks should have the authority to hand down binding orders. Concerned about a new gulf opening up between Europe and the United States, the ministers also called for their accounting norms to be relaxed in line with recent US moves to give banks more breathing room. Under pressure from Congress, the US Financial Accounting Standards Board voted on Thursday to modify the "mark-to-market" accounting standard, which has been blamed by some for worsening the global financial crisis. The changes will allow banks to hold some toxic assets to give them more time to recover in conditions where financial markets are frozen, rather than regularly marking their prices down to currently depressed market prices. "These changes could result in a significant divergence of international accounting practice for financial instruments," the ministers lamented in a joint statement after the meeting. They called on the standard-bearer for Europe, the London-based International Accounting Standards Board, to work with its US counterpart "with the aim of achieving equivalent treatment" for European banks. The ministers said that bringing the international accounting standards in force in Europe in line with the US rules was necessary to "avoid risks of competitive distortions emerging." "We don't want a transatlantic imbalance to arise," said German Finance Minister Peer Steinbrueck. "We want similar, flexible measures for banks operating in Europe." Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Explosives chemical found in US baby formula Journalists get shock with 'sexy' White House call Global warming leaving its mark on polar bears Arctic may be ice-free in 30 years: study Guantanamo 'soooo beautiful!' Miss Universe says View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Sunday, 5 April 2009
Obama, NATO pressure Karzai over law on women | International |
Chavez hopes to reset U.S.-Venezuela relations | International |
U.S. missile kills 13 in Pakistan | International |
Russia says to start nuclear talks with U.S. in April | International |
Thousands mourn Jade Goody | Entertainment |
North Korea launches rocket over Japan | International |
U.N.'s Ban urges $300 billion in G20 aid for poor nations | International |
Macedonia voting, hoping to win EU, NATO embrace | International |
Evacuation ordered as Chile volcano erupts again | International |
Recession 'worse than we thought': UK minister
Bulgarian construction sector fears for EU funds
Gasparovic re-elected as Slovak president
EU struggles to put G20 reform drive into practice
Swiss ministers cast doubt on OECD tax list criteria
McCartney and Starr reunite for meditation | Entertainment |
Metallica rocks Hall of Fame | Entertainment |
NY Times threatens to close Boston Globe
Rugged frontier a challenge to US Afghan strategy
Goalkeeper scores Iraqi Olympic committee post
Karzai rejects criticism of women's law, pledges review
Iraqi police: 2 gay men killed in Baghdad slum
Darfur on brink of deeper crisis
ASEAN summit to discuss G20 plans: Thai PM
NATO to commit extra troops to Afghanistan
Taiwan slashs jobs for foreign workers
Sri Lanka's battles force it to seek bailout
Telekom Malaysia to bid for EPL broadcast rights
Q+A-How will rocket affect S.Korea markets, economy?
US kids feel grown-up stress in slumping economy
China, Ecuador move toward energy deal
Metallica rocks Hall of Fame
India's scandal-hit Satyam to pick winning bid April 13
Celebrity choreographer accused of raping 4 women
Asian firms on Iraq shortlist for oil deals
Getting tourists to walk the Obama walk
Poland's forgotten El Greco
US police seek motive for New York state slayings
Metallica, Run-DMC headed to Rock Hall of Fame
State Department says North Korea launches rocket
Arabic inscriptions of Spain's Alhambra decoded
American UN hostage released in Pakistan: UN, police
Iraq plans to open Saddam museum
Obama swoops into Prague for EU-US summit
Jazz takes the 'A' train from New York to Baghdad
Nazi camp guard wins right to stay in US
US film noir stalks French theatres
Gasparovic re-elected as Slovak president
Obama charm secures deal on new NATO chief
NKorea says satellite launch was success
US, Japan lead condemnation of NKorea launch
Dozens missing as boat capsizes in north India
Philippines considers pullout to save 2 hostages
Manila rejects Red Cross kidnappers' demands
Thai PM says tension eases at border with Cambodia
35 soldiers found in Vietnam War mass grave
NKorea launches rocket, defying world pressure
Chinese, Filipina killed in US shooting spree
NKorea's rocket passes over Japan without incident
Indonesia turns to sex workers to boost election
Rome to mend social net after Afghan minors found
Obama backs Turkey for EU but France says no
Israeli attorney general considers charging Olmert | International |
Pakistan finds 46 dead Afghans in container
Paris, Berlin bristle as Obama backs Turkey for EU | International |
At least 22 killed in Pakistan suicide bombing | International |
Israeli attorney general considers charging Olmert
Tragedy strikes Zimbabwe PM's family again | International |
Israel's Netanyahu chairs first cabinet meeting
Sri Lanka military says 25-year war in final act | International |
Holbrooke, Mullen visit Afghanistan
On Palm Sunday, pope urges end to migrant deaths | International |
Netanyahu pledges to produce peace policy soon
U.S. warns of possible attack on embassies in Nigeria | International |
Somali pirates seize German ship | International |
Obama calls for US, Europe coordination
Iraq's policewomen struggle to change perceptions | International |
NKorean missile launch tests Obama
Parents to see detained US journalist in Iran
Clinton works phones before UN meeting on NKorea
Obama seeks nuclear-free world
US wants limits on Antarctic tourism
US warns of potential attack on Nigeria consulate
Alleged mafia boss caught by Italian police: reports
Madonna leaves Malawi after failed adoption bid | Entertainment |
North Korea launch provokes outcry
Cambodia, Thailand in talks after border clashes
21 drown, 20 missing after boat capsizes in India
Obama leads world condemnation of North Korea
Sri Lanka says 420 Tigers killed in latest battles
Drought hits tea production in northeastern India
North Korea satellite in orbit or ocean?
Protesters demand end to 'aristocracy' in Thailand
Pakistani Taliban carried out Islamabad attack
At least 22 killed in Pakistan suicide bombing
US-ENTERTAINMENT Summary
Madonna leaves Malawi after failed adoption bid
Madonna bolts Malawi after adoption disappointment
Ex-rebel killed in Indonesia's Aceh province
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01