EU leaders push sweeping regulations

The heads of government and finance ministers of Germany, France, the UK, the Netherlands, Czech Republic and Luxembourg, as well as the President of the European Commission and central bankers, met in Berlin on the 22 February 2009 to thrash out a common European position ahead of the G20 summit, London, April 2009.

The leaders outlined sweeping proposals to regulate financial markets and hedge funds and clamp down on tax havens as they sought a common position to combat the global economic crisis.

Commentators suggested after the meeting that there was still tensions between leading EU Member States as to the detail of a common EU position. In addition, smaller EU member states complained about being left out of the decision-making loop.

Deutsche Welle, 24.2.09: Economic Talks in Berlin Undermined EU's Unity, Officials Say http://www.dw-world.de/dw/article/0,,4051327,00.html

BBC News, 22.2.09: EU heads back financial clampdown http://news.bbc.co.uk/1/hi/world/europe/7904300.stm

Deutsche Welle, 22.2.09: European Leaders Agree to Clean Up Financial Markets http://www.dw-world.de/dw/article/0,,4048386,00.html

France24, 22.2.09: G20 recommends better oversight of financial markets http://www.france24.com/en/20090222-G20-berlin-europe-oversight-financial-markets-merkel-sarkozy-brown

IHT Europe, 23.2.09: EU leaders turn to IMF amid financial crisis http://www.nytimes.com/2009/02/23/world/europe/23germany.html

EurActiv, 23.2.09: EU leaders to push financial regulation at G20 http://www.euractiv.com/en/euro/eu-leaders-push-financial-regulation-g20/article-179662

University of Toronto: G8 Information Centre http://www.g7.utoronto.ca/

BBC News, 24.2.09: EU tensions amid financial crisis http://news.bbc.co.uk/1/hi/business/7907342.stm

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