Germany pushes UK on hedge fund rules

Report of comments by German Chancellor Angela Merkel in the Bundestag, 17 March 2010 during the annual budget debate debate.

Amongst other points raised in Mrs Merkel's speech she challenged UK Prime Minister Gordon Brown to drop his objections to European regulation of the hedge fund and private equity industry.

The euro, she said, was facing the 'strongest challenge is has ever had to cope with' in the wake of the Greek debt crisis... the problem was the result of many years of Greek violation of the rules of the eurozone stability and growth pact. 'There is no alternative to the Greek savings programme, and further efforts in the coming years'.

ESO: Background information: Euro group stands ready to help Greece http://www.europeansources.info/record/euro-group-stands-ready-to-help-greece/

ESO: Background information: Brown intervenes in hedge fund talks http://www.europeansources.info/record/brown-intervenes-in-hedge-fund-talks/

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