Sarkozy Asks For EU Cross-Border Trading Report

Law360, New York (July 11, 2008, 12:00 AM EDT) -- As one of his first orders of business, newly installed European Union president Nicholas Sarkozy has asked for a report detailing the European Commission’s progress on an initiative designed to reduce the cost of cross-border trade clearing and settlement.

The EU’s executive body said Friday that it has asked Internal Markets Commissioner Charlie McCreevy for an update on the ongoing effort to remove settlement and clearing barriers in order to foster greater competition, Dow Jones reported.

Sarkozy asked McCreevy to provide the report by the end...
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