Sweden's Finance Minister Anders Borg (R) with EU Economic and Monetary Affairs Joaquin Almunia (L) give a joint press after the ECOFIN meeting on July 7, 2009 at the EU headquarters in Brussels. The Financial Times reported on July 7 that the European Union would in October unveil laws to ensure banks have the capital reserves to support them through the bad times as it seeks to avoid a repeat of the financial crisis.