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U.S. Treasury Secretary John Snow and EU Commissioner for Internal Market, Charles McCreevy, met today to discuss issues facing theU.S.and EU in the areas of capital markets and financial regulation. Secretary Snow commended the EU for its vision of creating an integrated European capital market, which will contribute to a stronger global economy, and urged thatEuropeundertake strong efforts to implement the measures it has already adopted to create a liberal and open single financial market. He pledged that the Administration will continue its close cooperation withEuropethrough the US-EU Financial Market and Regulatory Dialogue in addressing issues of mutual concern with the aim of building a strong Transatlantic financial market anchored in the global system.
Commissioner McCreevy thanked Secretary Snow for Treasury’s leadership of the dialogue and expressed satisfaction with the spirit of cooperation that has been forged. He committed to continue to discuss financial issues with the United Statesin the informal and cooperative manner that is the basis of the dialogue and has achieved important successes to date.