Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
To be Fair and Accurate™, that's two years old (though it may still be their position).

The measures they go on to suggest are:

  • drastic reduction of financial exec and trader remuneration
  • Tobin tax
  • financial instruments to be accredited by a European testing agency
  • ban on naked short selling
  • mark to market valuation to be "reformed"
  • accreditation, transparency, control of hedge funds to be "tackled" at European level
  • tax havens to be closed, tax fraud and evasion prevented
  • delay on new investors' voting rights (presumably anti-LBO)
  • all financial institutions to contribute to a reserve fund guaranteeing deposits up to €100K
  • restriction of off-balance-sheet accountancy
  • establishment of an independent European ratings agency
  • creation of a European financial markets watchdog with teeth
  • EU-level coordination to diminish the effects of finance sector crisis on other sectors of the economy
  • anti-cyclical budgetary measures
  • "sufficient liquidity must be provided by the European Central Bank"

That wasn't a bad list, two years ago. Now some of it may look like the stable door after the horse has bolted.
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Nov 26th, 2010 at 05:20:37 AM EST
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