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The two leaders have an awkward relationship (Photo: Consilium)

Sarkozy and Merkel tell Brussels to speed up reforms

French President Nicolas Sarkozy and German Chancellor Angela Merkel have urged Brussels to speed up proposals for tougher regulation of certain financial products and trading practices.

In a two-page letter to European Commission President Jose Manuel Barroso, dated 8 June, the two leaders ask the EU executive to come forward with plans to clamp down on naked short-selling and Credit Default Swaps (CDSs) by the middle of next month, rather than October as originally planned.

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The two leaders have an awkward relationship (Photo: Consilium)

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