The European Union will call for better risk mechanisms and tighter government supervision of financial markets at the U.S.-led summit later this month, The Financial Times reports.
“We should not over-regulate, but we also need to make sure that we don’t leave loopholes in the regulation,” said Christine Lagarde, French finance minister, following a meeting of EU finance ministers in Brussels where “massive support” was given to French views on the urgent need for better regulation and supervision.