WASHINGTON, March 7 (UPI) -- The United States and European Union should work more closely together to combat terrorist financing, the U.S. Treasury said Wednesday.
Following the meeting of Treasury's deputy secretary Robert Kimmitt and the EU Commissioner for internal market and services Charlie McCreevy for the U.S.-EU financial market regulatory dialogue, the two officials agreed that they would continue to collaborate on fighting money laundering as well as the financing of terrorism.
Kimmitt pointed out that the EU had made "great progress" in developing a framework for an integrated EU wholesale financial market, while McCreevy welcomed the U.S. guidelines on private pools of capital.
Both welcomed German Chancellor Angela Merkel's proposal to launch a transatlantic economic partnership at the U.S.-EU summit slated for this summer.
