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UK premier calls for better financial market rules

15.10.2008 15:20 Political News

BRUSSELS, Belgium - British Prime Minister Gordon Brown is urging his EU counterparts to support calls for overhauling the International Monetary Fund in the wake of the global financial crisis.

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Brown says better international rules governing financial markets should be the next step after EU nations, the United States and others passed rescue plans to salvage banks and lenders.

Brown has long called for the Washington-based IMF to become a watchdog for global markets to prevent future market crises.

EU leaders are discussing ways to restore stability to banks and markets at a two-day summit starting Wednesday.

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