IMF, World Bank & IFI Round-Up

EU leaders pushed for tighter world financial regulation as the credit crisis hammers the global economy, throwing down the gauntlet to President-elect Barack Obama. The EU sought more powers for the IMF, called for stiffer regulation of credit-rating agencies and hedge funds, and urged a crackdown on risk-taking and bankers' pay, Bloomberg reported. "We don't want to move from an absence of regulation to too much regulation, but we want to change the rules of the game," French President Nicolas Sarkozy said after EU leaders finalized proposals for next week's global summit in Washington.

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