EU leaders seek broad bank reform

Gordon Brown on Europe's 'common action' over the crisis European leaders are calling for major reform of the global banking system, as they meet to discuss an EU rescue plan. UK PM Gordon Brown said the IMF should be "rebuilt" to help regulate the world's financial systems. German Chancellor Angela Merkel backed French President Nicolas Sarkozy's call for better international supervision of the financial system. The EU will also discuss lifting the guarantee on bank deposits to 100,000 euros ($136,760) within a year. However,... [read full story]