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The Greek Presidency will also work to advance, as far as possible, the new legislative proposals that the Commission has recently presented:
Financial Supervision and Regulation
In order to achieve an efficient market for financial services in the Union, it is important to enhance co-operation on supervision and regulation. The Greek Presidency will give priority to the work of improving the structures for the regulation and supervision of financial markets. The work of the Commission and Council seeks to develop a new framework, which contributes to a more efficient and transparent functioning of the European financial markets.
Corporate Governance
In view of the recent events in the USA, with the collapse of Enron and WorldCom, better and more transparent Corporate Governance is a prerequisite for the improvement of confidence in the financial markets. The Greek Presidency will work to advance, as far as possible, the Commission’s action plan on this matter. The Commission is expected to present a framework of proposals following the written report of corporate governance.