British Prime Minister Gordon Brown has urged his EU counterparts to support calls for overhauling the International Monetary Fund in wake of the global financial crisis. Brown says better international rules governing financial markets should be the next step of coordinated action after EU nations, the United States and others passed rescue plans to salvage banks and lenders. Brown has long called for the Washington-based IMF to become a watchdog for global markets to prevent future market crises, according to a report of Associated Press. German Chancellor Angela Merkel has also backed calls for stronger international supervision. EU leaders are discussing ways to restore stability to banks and markets at a two-day summit starting Wednesday.
