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EP Statement: Crisis and beyond: cross-party call to bolster EU economy against future shocks

( September 29, 2010, 16:11 GMT | Official Statement) -- MLex Summary: Economic A special European Parliament committee on the financial crisis called for stronger regulation to tackle inadequate business models, opaque financial products and short-term compensation incentives. The panel also called for more coordination of economic and budget policies, and policies to promote business and innovation.The crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, and also the need to involve the European Parliament more closely in decision-making, says a mid-term report approved by Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS) on Wednesday. EU and national recovery plans should pay special attention to small business needs and innovative energy projects, it adds....

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