Brussels, 11/04/2011 (Agence Europe) - “We need more extensive cooperation between regulatory bodies”, said Phil Angelides, who heads the US investigative committee on the financial crisis, speaking on Monday 11 April at a meeting of the European Parliament's special committee on the financial crisis. Believing that it was possible to avoid the 2008 crisis, he pointed at the lack of political will and breakdowns in the US regulatory system that led to a lack of checks and balances and allowed excessive risk-taking. He explained that those responsible have not been held accountable. German Liberal MEP Wolf Klinz said that the US and the EU should be able to make progress together because agreement among all the G20 is a pipe-dream. The EP's special committee on the financial crisis will be voting in May on a draft final report by Pervenche Berès (S&D, France) (see EUROPE 10347), to be adopted by the plenary in July. (M.B./transl.fl)