Fannie-Freddie, News Corp., China Banks, Samsung: Compliance
17.08.11
(Updates with Bank of America, AT&T and Florida Supreme Court ruling in Compliance Policy, Mexican insider trading in Compliance Action, and Knights of Columbus and Lorillard lawsuits in Courts.)
Aug. 17 (Bloomberg) -- German Chancellor Angela Merkel and French President Nicolas Sarkozy said they’ll press for closer euro-area economic integration with tougher deficit rules and stricter supervision to stamp out the debt crisis.
“It’s very obvious that in order for this to work we need a stronger convergence in finance and economic policy within the euro zone and Germany and France are at the vanguard of that effort,” Merkel said at a joint briefing in Paris after a two- hour meeting at Sarkozy’s Elysee Palace.
Merkel and Sarkozy rejected euro bonds and expanding the 440 billion-euro ($633 billion) rescue fund. They plan to resubmit a financial-transaction tax, which was rejected in 2010. They proposed debt limits be written into national law and a “euro council” to be headed by European Union President Herman van Rompuy established as part of a planned “economic government” for Europe.
Source: BusinessWeek