EU to draw lessons from Parmalat scandal

Internal market Commissioner Frits Bolkestein said yesterday that there are lessons to be learnt from the Parmalat scandal, as EU ministers discussed the possible implications for the EU economy.

Mr Bolkestein said that the Commission would improve proposals on EU auditing practices and corporate governance first put forward last May, but stressed that "hasty and ill considered legislation" should be avoided.

He also said that in light of the Parmalat case, it is imperative that E...