UK's Cameron says to be new press regulation system

LONDON, July 8 Fri Jul 8, 2011 4:59am EDT

LONDON, July 8 (Reuters) - Britain's Prime Minister David Cameron on Friday called for a new system of press regulation in the wake of the closure of the News of the World newspaper.

"I believe we need a new system entirely, it will be for the enquiry to recommend what the system should be like but my starting presumption is that it should be truly independent, independent from the press, so that the public will know that newspapers will never again be solely responsible for policing themselves but vitally independent from government, so that the public will know that politicians are not trying to control or muzzle the press that must be free to hold politicians to account."

This new system of regulation will strike the balance between an individuals' right to privacy and what is in the public interest, he said.

Cameron was speaking at an urgent news conference at his Downing Street office called in the wake of the closure of the News of World newspaper. (Reporting by Keith Weir and Neil Maidment)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.