guardian.co.uk: Social networking sites sign EU pact to fix cyber-bullying

[...] the new anti- bullying initiative signed today with MySpace, Google and the European Union, which is designed to protect the teenagers who make up up sizable chunk of the estimated 42 million monthly European users of social networking sites.

The sites, as part of 17 across Europe, have agreed to some fairly straightforward steps, including introducing a 'report misuse' button where they don't already, and another to alert local authorities of 'inappropriate contact from or conduct by' another user.

By default, profiles will have security turned up to 11 for younger users (those under 16, that is) and will be excluded from search engine indexing. [...]

These is a voluntary code for sites, and will be rolled out along with an educational campaign for parents and children.