France has reacted to the global financial crisis by proposing a European rescue package to prevent the collapse of any bank.
French Foreign Minister Christine Lagarde told the Handelsblatt daily that she would present it this weekend but did not say how large it would be. Meanwhile, the European Union has called for new measures to stabilise financial markets. European Commission president Jose Manuel Barroso said the EU needed to streamline national banking regulations. EU Internal Markets Commissioner Charlie McCreevy added that banks selling risky securities should hold at least five percent of such investments to share the risks.
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